Part 4/15:
Sorcin emphasizes that the 1929 crash was rooted in a confluence of factors: a speculative frenzy driven by technological and cultural shifts, lack of regulation, and systemic leverage. He traces these origins back to the post-World War I period, particularly starting in 1919, when America’s attitude towards borrowing fundamentally shifted. Companies like General Motors started lending to consumers, and financial institutions began extending credit for stocks and appliances—revolutionizing access to consumer capital but creating an environment ripe for excess.