Great Depression - Of the 193 state-chartered banks in the Chicago area in 1929, only 35 would survive to the end of 1933
Time: Jun, 1931
Place: Chicago, Illinois, U.S.
Details: Second major round of U.S. bank failures and worsening economic situation contributes to permanent change in people's expectation of the economy. This run was centered on bank in Chicago, which suffered from real estate loan defaults. Of the 193 state-chartered banks in the Chicago area in 1929, only 35 would survive to the end of 1933.
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