Hoovervilles were not filled with rich people. In fact, in 2008, expensive cars barely saw a dent in sales cause the people that can afford them are heavily resistant to shocks of that caliber. Rich people are most definitely not creditors. Banks are. Rich people don't give out loans like banks. The rich don't get affected by poorer people who declare bankruptcy. The rich lose when poor people think money is greater than whatever BS commodity they're peddling that they can't recoup losses trying to sell it. That's why panics were more common back in the day. They're virtually a thing of the past nowt hat the Fed just prints money making everything think you gotta invest constantly or just lose money to inflation.