This week, we're launching our new video podcast, Settle in.

In the premiere episode, Amna Nawaz has a fascinating discussion with financial journalist Andrew

Ross Sorkin about his new book, 1929, Inside the Greatest Crash in Wall Street History

and how it shattered a nation.

In their conversation, Sorkin describes how Wall Street Titans

persuaded everyday Americans to invest in the stock market using borrowed money.

I want to underscore here what you lay out so well through stories in the book, which was this

idea that at the time, that big change of being able to buy stock on credit. That was a huge shift, right? How

dramatic was that shift when people were suddenly able to do that?

That was a huge shift. And by the way, it was even a broader shift in America. I mean,

up until 1919, taking a loan was considered like a moral sin. It was something that only, you know, the grubby of the grubs would do.

Like going to a pawn shop. It was really something that was looked down upon.

Like culturally, right?

Culturally, culturally. Just as a, you did not want to be somebody who took on credit. And what happened in 1919 was General Motors

decided they needed to sell more cars. And how were they going to sell more cars? They were

going to start to loan people money. And somehow people decided that that was acceptable because

it was a big purchase. And so if you were going to buy a car and you needed to take the loan from GM.

Well, then Sears Roebuck clocked what was going on and said, oh goodness, people are willing to do this.

That's interesting.

We are now going to actually sell appliances and we will loan you money so that you can buy those appliances.

Again, some of those

are expensive products. And then folks like Charlie Mitchell on Wall Street see what's going on and say,

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