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OpenStudy (anonymous):

Who or what did President Hoover blame for the Great Depression?

OpenStudy (anonymous):

Jews.

OpenStudy (anonymous):

As far as I know He blamed it on banking and financial institutions becoming involved in securities industry. He also blamed the Depression on foreign economic collapse over which he had no control Most of the Major European banks were going bankrupt, causing alarm in other foreign banks. Great Britain went off the gold standard. The Bank of England refused to redeem its paper money in gold bullion or coin. Stock markets too were crashing and investors feared that all paper money would lose its value so they withdrew $1.5 billion in gold from American banks. This further weakened the global economic situation.

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