0 sats \ 1 reply \ @BitcoinAbhi 15 Jun \ on: French bonds and bank stocks rocked by political turmoil econ
French involvement in the Seven Years' War and the American War of Independence added substantially to the state's debts. Following the stock market crash, the banking system in the United States faced a severe crisis, leading to widespread bank closures and loss of public confidence. The government implemented regulatory reforms and established institutions like the FDIC to address the crisis and restore confidence.
The seven years war was expensive for the British government. Parliament created new taxes in the American colonies which led to the revolution for independence in 1776.
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