Everything David Wallace knew about the Great Depression of the 1930s assured him that it would never happen again.
Like many people, he thought regulations and protections were put in place to control Wall Street and the nation’s banks, such as the U.S. Securities and Exchange Commission and the Federal Deposit Insurance Corp.
Now, as a history student at the University of Southern Maine, Wallace is studying the Great Depression at a time when the United States is in the midst of an economic crisis. Wall Street and the banking industry are in shambles, rocked by a mortgage crisis with worldwide reach.