Many banks had also invested in the stock market and lost money. W.W. Tarpley, a bank officer in Georgia, remembered the mob of people who came to his bank, fearful of losing everything, " . . . people were losing their homes and some their savings of a lifetime. The saddest part of it was to see widows who probably had been left a little insurance and had put it all in the bank."
The crash triggered the Great Depression. People all over the country not only lost their money, but also they lost their jobs. Businesses closed because they could not afford to pay their workers. Stock prices continued to fall, and on July 8, 1932, the market hit its lowest point during the Depression. Many lives were drastically changed, but only a few for the better.