Untitled Essay

2142 words - 9 pages

Morgan Bennett Mr. Harris History Honors- Per 5 April 2001 The Securities and Exchange Commission In 1934 the Securities Exchange Act created the SEC (Securities and Exchange Commission) in response to the stock market crash of 1929 and the Great Depression of the 1930s. It was created to protect U.S. investors against malpractice in securities and financial markets. The purpose of the SEC was and still is to carry out the mandates of the Securities Act of 1933: To protect investors and maintain the integrity of the securities market by amending the current laws, creating new laws and seeing to it that those laws are enforced.During the 1920s, approximately 20 million Americans took advantage of post-war prosperity by purchasing shares of stock in various securities exchanges. When the stock market crashed in 1929, the fortunes of many investors were lost. In addition, banks lost great sums of money in the Crash because they had invested heavily in the markets. When people feared their banks might not be able to pay back the money that depositors had in their accounts, a "run" on the banking system caused many bank failures. After the crash, public confidence in the market and the economy fell sharply. In response, Congress held hearings to identify the problems and look for solutions; the answer was found in the new SEC. The Commission was established in 1934 to enforce new securities laws that were passed with the Securities Act of 1933 and the Securities Exchange Act of 1934. The two new laws stated that "Companies publicly offering securities must tell the public the truth about their businesses, the securities they are selling and the risks involved in the investing." Secondly, "People who sell and trade securities must treat investors fairly and honestly, putting investors' interests first."2 Franklin Delano Roosevelt defeated Herbert Hoover in a landslide in the 1932 election and began to work on his "New Deal". In the New Deal four key regulatory bodies were established: The National Labor Relations Board, Civil Aeronautics Authority, Federal Communications Commission, and the Securities and Exchange Commission.Wall Street was not enamored with the coming regulation, but Congress was confident that the Street was seen as an easy target for the Crash and the Depression that followed. In response, the SEC was created by Congress on June 6, 1934 for the purpose of protecting the public and the individual investors against malpractice in the financial markets. Commenting on the creation of the SEC, Texas Congressman and future Speaker Sam Rayburn admitted3 "he didn't know whether the legislation passed so readily because it was so good or so incomprehensible." However, historian David Kennedy viewed the SEC as "ingeniously simple". In his book Freedom From Fear he states that "For all the complexity of its enabling legislation, the power of the SEC resided principally in just two provisions, both of them ingeniously simple. The first mandated...

Find Another Essay On Untitled

Untitled Essay

2241 words - 9 pages It's almost midnight and I still lay awake, outside my window I look at the broken sky, every night in the sky I look for a shining star, the one that I have not found yet. I don't quite remember where and when I lost it. It appears that my star has grown tired of this gruesome world and has lost its ability to shine. The sound of the angry rain pattering upon the rocky road like a thousand bombs that have lost their purpose. The tapping of the

Untitled Essay

1110 words - 4 pages VolcanosVolcanos occur all over the world.The best know volcano zones occur on the destructive plate margin around the Pacific Ring of Fire.This chain of volcanos that lie along the west coast of central and south America,Japan and the Philippines,across New Zealand and into the Atlantic.Volcanos also occur in mid-ocean along the line of ocean ridges.The Mid-Atlantic Ridge is an example of ocean floor volcanos.When these volcanos erupt lava flows

Untitled

1372 words - 5 pages April 28, 1997 "Legalization of Marijuana" Cannabis sativa or marijuana has been cultivated for over 5,000 years. The plant spreads like milkweed and will eventually run out any other plants nearby. In the wild, or grown with care marijuana can grow to be 3 - 20 feet high. The plant itself can be used for rope, material, medicine or for smoking. But, whatever way you choose to use this plant, it is illegal.It was made a law in the early 1900's

Untitled - 1311 words

1311 words - 5 pages INDUSTRY STUDIES QUESTION 1. (a) Student -centred learning could be described as student-independence learning. The student has to some degree the ability to choose the time and place of study, the methods and order of studies and can vary his pace of study as well as the length of his studies to suit his needs. Student-centred learning puts the students needs to a large extent first. Having a learner-centred approach gives students options in

Untitled - 525 words

525 words - 2 pages A Stranger is WatchingA Stranger is Watching is a terrific book. I enjoyed reading this book very much. The non-stop action kept me reading for hours.One of the best features of the book is how it was written.The point of view changes every chapter.For example Chapter 1 is written in the point of view of the infamous Foxy character.Chapter 2 is written in the point if view of our protagonist, Steve; and so on.I also liked how the author built the

Untitled - 2141 words

2141 words - 9 pages The Positive and Negative Effects of Immigration Ryan Bohn Mr. DiMauro Government Period 1/2 B Immigration Ryan Bohn Government Period 7/8 A During the first 2 million years of the United States' history, the human population was a minor element in the world ecosystem, with at most 10 million members. One Hundred thousand years ago, with the dawning of the Stone Age, the number of human beings began to increase more rapidly. The relative

Untitled - 590 words

590 words - 2 pages Society has always placed a great emphasis upon the importance of a woman's appearance, and through that emphasis women have instinctively been taught to measure their self-worth in terms of the image they present, even more so than their intelligence. They have been given rigid and challenging standards to live up to, standards that are usually unrealistic, unattainable, and disheartening. Many women spend a large majority of their lives

Untitled - 2162 words

2162 words - 9 pages December 11,2001 MY INTERNSHIP Through out my one hundred and twenty-hour experience with the Gloversville Police Department, I learned many skills, values and the ways of this Police Department. Many of the calls and situations I went to often could relate to a certain theory that I learned in any of my law classes. I would recommend any student majoring in Criminal Justice to try to take an internship with a local law enforcement agency. I am

Untitled - 881 words

881 words - 4 pages Iroquois Culture In order to fully understand and appreciate a culture different from one's own, one must first have a grasp on ethnocentrism and how it can change thoughts and viewpoints. Ethnocentrism is a term used when someone is judging a culture's ethics or way of life based upon his or her own belief structure or cultural values. Granted, being ethnocentric is not necessarily something to be ashamed of; everyone does it as a part

Untitled - 1763 words

1763 words - 7 pages The Very Basics Curling is played on ice with (approximately) 42-pound granite stones. The size of the playing surface (a 'sheet') is 138 feet long by approximately 14 feet wide. The goal is, after all 16 stones are played (8 by each team), to have a stone of your team's closest to the center of the house, called the 'tee' (see above). This is accomplished by sending your stone to rest in scoring position (a 'draw'), by knocking your opponent's

Untitled - 1308 words

1308 words - 5 pages Nicholas Pantazelos Marketing Principles Jamba Juice Feburary/5/2002 Marketing often comes down to making your customers intelligent enough to buy your products or services. They have to understand what it is you're selling, how it'll help them, and how much better it is than any other solution. Jamba Juice is a leading juice and smoothies retail chain in the country. Started in 1990, originally called The Juice Club, their stores are now open in

Similar Essays

Untitled Essay 1058 Words

1058 words - 5 pages The park is beau’iful in winter, thought Thomas, shivering slightly in the frosty breeze. Bu’ I wish there were somefin to brigh’en the dull colours. It’s so… dead-lookin’. His red scarf whipped about his face, blinding him momentarily; he swatted it away, folding the ends between his arms, before continuing on his way home. While he was walking, he pretended he was a tight-rope walker in the circus; one toe in front of the other, stepping

Untitled Essay 1510 Words

1510 words - 7 pages All she sees are the reeds whispering soft, sweet, crooning, kind words while her parents shout loud, bad-mouth, I TOLD YOU THIS AND I TOLD YOU THAT. Harsh, chemical, acid burning hate they propel at each other each day while she lays in the soft grass. Their words are melting the sugar off the bare, candy-cane box-cut home. “Cuz we’re poor, baby, we’re filthy poor, and you and your new shoes ain’t helpin’.” Money. It always comes back to

Untitled Essay

1801 words - 8 pages Arab spring, the domino effect in the Muslim countries in the Middle East leading to violent and non-violent movements either being successful or not, depending on the relative countries. It is difficult for one to understand this whole predicament in the broad aspect, therefore for this particular reason the focus will be on two countries where in one non-violent movements were successful and in the other violence had to be used for their to be

Untitled Essay

1266 words - 6 pages The first thing you notice about these places is the putrid smell. Every den reeks of desperation, the smell of men and women who gave up on existence long ago. The splitting headache makes it hard to open my eyes, besides what’s the point; it always looks as bad as the aroma it puts off. I’ve grown accustom to the sense offending hell holes that are sloth dens but you never truly get use to it, it just becomes easier to ignore over time. Looking