Although we have recently been through the worst economic recession since the 1930s. it is almost impossible todayexcept for those of us who lived through and experienced itto comprehend the severity of the Great Depression. When the Penn Square Bank of Oklahoma failed two years ago in 1982. the Federal Deposit Insurance Corporation protected and insured the funds of its depositors. When the Bank of the United States. located on New Yorks Lower East Side. failed in 1930. its depositors. mostly immigrants and the working poor. lost their entire savings. To recount a bit of personal experience. as a boy I sold the Cincinnati Post. and I saved $7. I put that $7 in the bank of Matoaka.
Keywords matched
immigrants