The most important cause of the Great Depression: Speculator's actions

The actions of the speculators in the 1920's ultimately were the leading cause of the Great Depression because of their over-confidence in the raising of stock prices. In the 1920's, lots of Americans "got rich quick" by investing and selling in the stock market, but when speculators borrowed money from the bank and the stock prices went down in a company, those speculators were in even more debt with the bank. So when a lot of people started to do this, banks ran dry and went bankrupt. In the 1920's over 500 banks had failed and what happens when a bank fails, is that everyone loses their money and the poverty rates plunge. It's probably the most important because of how many Americans were involved with debt from the stock market and how many banks failed.