1930’s, that was a Depression – Minute 16
DIR HUNTER WEEKS: I’ve heard you say this is nothing like the Great Depression. WALTER: Listen in 1930’s, that was a depression, I’ll tell you that. And don’t let anybody try to compare with what we’re doing today. There’s so much money in the country right today. You know before radio or television and these retirement homes, social security — all that stuff. And then the 1930’s, the stock market went busted in ’29 if you will remember. You’ve probably heard that? That’s when Roosevelt was elected in 1930. Franklin Roosevelt. He immediately closed all the banks in the United States because the banks were closing one after another.