The stock market crash of 1929, also known as Black Tuesday, was the largest crash to date. The market dropped a total of $2 billion in just 30 minutes (Thomas 73) with over 16 million shares sold (74). This event single-handedly bankrupted thousands of families and businesses within minutes, making it one of the most disastrous events of the 20th century. Over time, many signs of economic collapse and many diverse causes have emerged. Some of the many causes of Black Tuesday are giving loans to people who could not repay their loans, the Federal Reserve being unable to control the huge market, and the market growing too quickly . A group of investors came together. one of them was John Jacob Raskob and many other investors were selling short (Klingaman 32). He decides that he can make money and be more like a philanthropic person by making people rich, but first he had to convince them that stock prices would rise indefinitely (31). One thing Raskob did to convince people was he said in a press interview that he used Raskob as a broker; you could invest $15 in a stock with him over 40 years, you could multiply your money nearly 27 times (33). Raskob says "I have all the money I want and now I want to help a lot of other people make it." He decides to start a business where you just pay a down payment and $15 a month and people benefit from it. this (32). Although the average salary is only $25 per week, it is very difficult for a family to pay $15 per month (33). This then causes people to sell stocks, causing the market to fall. When Raskob saw this happening, he immediately liquidated his stocks, along with many others...... middle of paper ......e the causes, but only a few of the causes were discovered , and they are that the stock market grew too big and too fast, the Federal Reserve made bad choices, and a select group of businessmen trusted people who couldn't pay their money back to take money. Works Cited Allen, Frederick Lewis. “Failed Efforts by the Federal Reserve.” The Crash of 1929. ed., Gerdes, Louise I. San Diego: Greenhaven Press. 42-46 Hall, Thomas E. and J. David Ferguson. “The 1920s: a new era of prosperity.” The Crash of 1929. ed., Gerdes, Louise I. San Diego: Greenhaven Press. 22-28Klingaman, Wiliam K., “Everyone should be rich”. The Crash of 1929. ed., Gerdes, Louise I. San Diego: Greenhaven Press. 28-41Thomas, Gordon and Max Morgan-Witts. “October 29, 1929: the day the bubble burst. » The crash of 1929. ed., Gerdes, Louise I. San Diego: Greenhaven Press. 66-77