Security Exchange Commission (SEC)
The Securities and Exchange Commission was established in June 1934 in order to police the stock market (1).
President Franklin Roosevelt had been trying to find ways to restore the nation back to stability including calming the stock market and the economy. His approaches were part of "the New Deal" (4). This specific commission achieved this purpose through regulating financial markets and investment companies. It also required all stock exchanges to obtain licenses and had the power to register securities (2).
This commission helped people investing in the stock market as they could know they could be more confident in it. It had the least positive impact on corrupt big stock businesses who could no longer be dishonest.
The SEC was very successful as it restored confidence in the people and helped alleviate the crash of the stock market. While it did bring immediate relief , the commission was also part of a long term recovery plan as it set standards for years to come. It could also be described as a reform as before the market was crashing fast and there weren't many laws concerning it (3). The program was liberal as it advocated equality for everyone, involved the government in stocks, and supported the people who were being taken advantage of (4).
This commission helped people investing in the stock market as they could know they could be more confident in it. It had the least positive impact on corrupt big stock businesses who could no longer be dishonest.
The SEC was very successful as it restored confidence in the people and helped alleviate the crash of the stock market. While it did bring immediate relief , the commission was also part of a long term recovery plan as it set standards for years to come. It could also be described as a reform as before the market was crashing fast and there weren't many laws concerning it (3). The program was liberal as it advocated equality for everyone, involved the government in stocks, and supported the people who were being taken advantage of (4).
Bibliography:
1) Brinkley, Alan. "Chapter Twenty Four." The Unfinished Nation. New York: McGraw-Hill, 2000. 629. Print.
2) Marshfield. "APUSH." APUSH. N.p., n.d. Web. 25 Feb. 2014.
3) "Securities Act of 1933." LII / Legal Information Institute. N.p., n.d. Web. 24 Feb. 2014
4) "The New Deal." The New Deal. N.p., n.d. Web. 22 Feb. 2014.
1) Brinkley, Alan. "Chapter Twenty Four." The Unfinished Nation. New York: McGraw-Hill, 2000. 629. Print.
2) Marshfield. "APUSH." APUSH. N.p., n.d. Web. 25 Feb. 2014.
3) "Securities Act of 1933." LII / Legal Information Institute. N.p., n.d. Web. 24 Feb. 2014
4) "The New Deal." The New Deal. N.p., n.d. Web. 22 Feb. 2014.