What was the long term cause of- This kind of federal regulation had not happened before March 1929. Wall Street was afraid that if this happened, people would not be able to borrow money to buy stocks, and then no one could buy the RCA stock that speculators were trying to sell quickly. This led to the Crash because it made stock brokers nervous that the government was going to clamp down on speculation, and they were more ready than ever before to launch a massive sell-­‐off of stocks if that happened.