Question

Bankers on Wall Street felt the recession of the late 19th century the worst. True or false?

Answer 1

True. Bankers on Wall Street, along with other financial institutions and businesses, were significantly affected by the economic downturns and recessions of the late 19th century, particularly during events such as the Panic of 1873 and the Panic of 1893. These events led to bank failures, stock market crashes, and widespread financial distress, which deeply impacted bankers and investors in the financial sector.