To what degree, if at all, did powerful Americans—elected officials, business leaders, etc.—anticipate the market crash of 1929 and subsequent Great Depression? If there were those who did anticipate the depression, how, if at all, did they profit?

by Nut_Graf

For a book I’m writing, I specifically want to know whether, say, politicians acted surreptitiously in attempts to preserve assets, as well as in attempts to profit from anticipating what millions would not. Of course, if such things did occur, I’m also curious about stories of how they succeeded. Book recommendations would be greatly appreciated.

GeneReddit123

Followup question - did the derivatives market or short selling exist in 1929? How easy would it be for an investor to profit from downturns in a bear market?