"When news of the crash came, probably a lot of people in small towns and farms across America felt a sense of grim satisfaction that the sinners had finally been punished for their wicked ways"

This quote by Ron Chernow is referring to the stock market crash of 1929. The crash had a terrible effect on the American economy, causing the Great Depression. The quote recommends that many individuals in villages and rural areas throughout America felt a sense of vindication when they heard the news of the crash. They likely felt that the rich people who had actually been living extravagantly and taking threats with their cash had actually lastly been punished for their "wicked ways". This quote reflects the sentiment of many individuals during the Great Depression, who felt that the rich had been living too lavishly and had actually not been held liable for their actions. It likewise shows the idea that the wealthy were not the only ones affected by the crash, and that the people in towns and backwoods were also suffering.