Alphonse Gabriel "Al" Capone (January 17, 1899 – January 25, 1947) was an American gangster who led a crime syndicate dedicated to smuggling and bootlegging of liquor and other illegal activities during the Prohibition Era of the 1920s and 1930s.

Born in Brooklyn to Southwestern Italian immigrants Gabriele and Teresina Capone, Capone began his career in Brooklyn before moving to Chicago and becoming the boss of the criminal organization known as the Chicago Outfit— although his business card reportedly described him as a used furniture dealer. Pass the spumoni!

Although he was never successfully convicted of racketeering charges, Capone's criminal career ended in 1931, when he was indicted and convicted by the federal government for income-tax evasion.

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John Calvin Coolidge, Jr. (July 4, 1872 – January 5, 1933) was the 30th President of the United States (1923–1929). A Republican lawyer from Vermont, Coolidge worked his way up the ladder of Massachusetts state politics, eventually becoming governor of that state. His actions during the Boston Police Strike of 1919 thrust him into the national spotlight. Soon after, he was elected as the 29th Vice President in 1920 and succeeded to the Presidency upon the death of Warren G. Harding. Elected in his own right in 1924, he gained a reputation as a small-government conservative.

Coolidge restored public confidence in the White House after the scandals of his predecessor's administration, and left office with considerable popularity. As his biographer later put it, "he embodied the spirit and hopes of the middle class, could interpret their longings and express their opinions. That he did represent the genius of the average is the most convincing proof of his strength." Many later criticized Coolidge as part of a general criticism of laissez-faire government. His reputation underwent a renaissance during the Ronald Reagan Administration, but the ultimate assessment of his presidency is still divided between those who approve of his reduction of the size of government and those who believe the federal government should be more involved in regulating and controlling the economy.

Herbert Clark Hoover (August 10, 1874 – October 20, 1964) was the 31st President of the United States (1929–1933). Besides his political career, Hoover was a professional mining engineer and author. As the United States Secretary of Commerce in the 1920s under Presidents Warren Harding and Calvin Coolidge, he promoted government intervention under the rubric "economic modernization". In the presidential election of 1928, Hoover easily won the Republican nomination, despite having no previous elected office experience. To date, Hoover is the last cabinet secretary to be directly elected President of the United States. The nation was prosperous and optimistic at the time, leading to a landslide victory for Hoover over Democrat Al Smith.

Hoover deeply believed in the Efficiency Movement (a major component of the Progressive Era), arguing that a technical solution existed for every social and economic problem. That position was challenged by the Wall Street Crash of 1929 that took place less than eight months after his taking office, and the Great Depression that followed it which gained momentum in 1930. Hoover tried to combat the Depression with volunteer efforts and government action, none of which produced economic recovery during his term. The consensus among historians is that Hoover's defeat in the 1932 election was caused primarily by failure to end the downward economic spiral, compounded by popular opposition to prohibition. Other electoral liabilities were Hoover's lack of charisma in relating to voters, and his poor skills in working with politicians. As a result of these factors, Hoover is typically ranked very poorly among former U.S. presidents.

The Wall Street Crash of 1929, also known as the Great Crash or the Stock Market Crash of 1929, was the most devastating stock market crash in the history of the United States, taking into consideration the full extent and duration of its fallout.

Four phases—Black Thursday, Black Friday, then Black Monday, and Black Tuesday—are commonly used to describe this collapse of stock values. All four are appropriate, for the crash was not a one-day affair. The initial crash occurred on Thursday, October 24, 1929, but the catastrophic downturn of Monday, October 28 and Tuesday, October 29 precipitated widespread alarm and the onset of an unprecedented and long-lasting economic depression for the United States and the world.