Was it really that BAD?

How do we make banks liable for their incompetence?

Should have let the banks die.

>And Millions of Americans moved to Bushvilles and Europe became fasicst.

Nobody used the term "bushville", because mass shanty towns didn't exist like they did in the 1920s (this is largely a consequence of Americans being able to afford cars nowadays). But we would have had that if, as in the 1920s, the entire banking system collapsed and took deposits with it. This is exactly why the government had to step in and manage things because the FDIC was already warning about having to issue over $100bn in script if banks really started failing.

>We didn't really get anything from it except the news and the media sperging about it.

Considering that it set the stage for the succeeding Eurozone debt crisis, it did. When America's economy slowed so did all of Europe's big economies, it was about the point when the PIGS realized they could not just issue more debt to keep growth up because the amount of buyers were slashed due to the world's largest economy entering a major recession.

China is at this point now too, since in response to our problems they too relaxed credit rules and issued phenonmal amounts of debt. They hit the limit on their ability to do that in about 2015, which is when all their current stock market trouble began.

Obama didn't respond, Bush did in the last minutes of his Presidency. The Troubled Asset Relief Program couldn't wait for the election, and Bush gave his signature to it a few days before it and most of the program's work was done between the election and Obama's inauguration. Obama moved into economic stimulus for that reason, because the immediate crisis was mostly over by the time his inauguration took place. This was when WaMu was absorbed by Chase.

Still the social impacts weren't that big.

>Muh China

It hasn;t been undone, because none of the causes were fixed, really, due to 5 second attention span of society. And right now we're taking a dive into another, most likely far more dire crisis.

Did you read my post? We barely got the social repercussions that the Great Depression had. No country faced hyperinflation, no country became Nazi. Even Greece and Spain didn't reach 30 % unemployment like Australia in 1932. The USA peaked, IIRC, at about 10 % unemployment around 2009, whereas in 1940 they were still at 15 %, down from the 25 % reached in 1933.
It took ten years after Black Thursday for World War 2 to begin in Europe (8 years if you count the Japanese invasion of China as the start of WW2). Twelve years into the current crisis and world war, although looming in the mid term, is not imminent either.

It was huge, WaMu in particular let their ATMs run dry and lines started forming when people couldn't access their funds remotely. This was when people started getting really worried that they couldn't get their money, so they started demanding all of it causing branches to run dry and close forcing remaining customers to their regional offices. This is exactly when a bank run started happening and the FDIC stepped in once the amount of deposits fell underneath the required amount for the loans they issued. Depositors were then mailed script, not cash.

Meanwhile, millions of Americans went into foreclosure and bankruptcy due to their mortgages being insolvent. This wrecked a lot of cities that couldn't adjust to the sudden rise in renters against homeowners, and led to a larger financial crisis within many places. This had a disastrous affect on consumer spending making a downward spiral as factories closed, in particular GM's (which led to Detroit's 2013 bankruptcy).

The social impact can't be understated, since these were the problems that Obama rightfully grilled Hilary on and is how he stole the nomination from her and how he got to be President. Even if you don't like Obama, his inability to give people the reform they wanted led to Trump. Two Presidents are directly attributable to the crisis.

Yep.
t. bordered on homelessness and other fun shit for a few years, as have many kids during that time
Gut them like the rats they are.
>inb4 commie
Because the world has changed quite a bit from those days and there wasn’t decades/centuries worth of buildup ready to blow up like there was in the case of WW1/2 for most places. The internet had a pretty big impact as well, and for the US at least the issue was less about how many people were unemployed and more about how the cost of living continually increased while getting paid less and less and losing all of the investments made over the years.

My point wasn't that it was bigger than the Great Depression, just that it was the biggest since.