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Summary CORRECTED HIS110 Assignment2.docx HIS110 Assignment 2: Thinking Critically About Your Historical Topic HIS110 PROFESSOR LESLIE RUFF Step 1: Knowledge Research question: How can the lessons learned from the Great Depression of 1929€“1941 and the G$7.49
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Summary CORRECTED HIS110 Assignment2.docx HIS110 Assignment 2: Thinking Critically About Your Historical Topic HIS110 PROFESSOR LESLIE RUFF Step 1: Knowledge Research question: How can the lessons learned from the Great Depression of 1929€“1941 and the G
CORRECTED HIS110 A HIS110 Assignment 2: Thinking Critically About Your Historical Topic HIS110 PROFESSOR LESLIE RUFF Step 1: Knowledge Research question: How can the lessons learned from the Great Depression of 1929€“1941 and the Great Recession of 2008 help prepare citizens of the Uni...
corrected his110 assignment2docx his110 assignment 2 thinking critically about your historical topic his110 professor leslie ruff step 1 knowledge research question how can the lessons le
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HIS110
Assignment 2: Thinking Critically About Your Historical Topic
HIS110
PROFESSOR LESLIE RUFF
Step 1: Knowledge
Research question: How can the lessons learned from the Great Depression of 1929–1941 and
the Great Recession of 2008 help prepare citizens of the United States for another economic
depression?
What are some focused questions that will help you understand your issue?
How prepared are the citizens of the United States for another economic crisis?
Did the citizens of the United States actually learn from The Great Depression and the
Recession of 2008?
What did the people of the United States learn from The Great Depression?
Was the people of the United States prepared for our current COVID-19 Pandemic after
learning from the past Recession of 2008 and The Great Depression?
Step 2: Comprehension
What have you learned from your primary sources about the historical challenges or
successes of society?
Through my primary sources, I learned that the leading cause of the Great Depression was the
stock market crash of 1929. The leading cause of the Great Recession of 2008 was a shortage of
funds within the Global Banking System. This was caused by mortgage companies selling
mortgage bundles from "risky lenders" to banks. In 2005, interest rates on the loans began to
increase, causing the clients to default on their mortgage payments for the risky lenders. During
the Great Depression, life for Americans was stressful and financially debilitating. Poverty was a
huge problem, as many Americans lost their jobs. During the Great Recession of 2008,
Americans' lives were comparable to those who lived through the Great Depression. Many
businesses never recovered from the ill impact that the Great Recession also had on companies.
The National Industrial Recovery Act (NIRA) of 1933 stepped-in during the Great Recession,
creating over 500 industrial-based groups in charge of setting limits on production to raise prices
and negotiated higher wages. In turn, this created more employment opportunities for the
American people. As for the Great Recession, U.S. Congress passed TARP (Troubled Asset
Relief Program). TARP allowed the U.S. Treasury to enact a considerable bailout program for
banks that were considered to be "troubled." A few key steps can be taken to ensure that another
Great Depression or Great Recession does not occur. They consist of coming up with monetary
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