The Crash of 1929


The documentary is about the President of the National City Bank, Charles Mitchell, who in 1929 popularized the idea of selling high yield bonds and stock to small investors directly. Together with a very small group of brokers, bankers and speculators they manipulated the stock market, became rich and helped to create period of rapid economic expansion of that decade.

Their successes made them heroes and in 1929, the market starts apparently unlimited rising. On the basis of continuous eight years successes the President and economists similarly believed that America would soon enter a “New era” when everyone could be rich and there would be no more poverty and depressions. But their estimation became wrong and they were only rich who became richer.