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3 Programs of the New Deal

  • Date Submitted: 03/17/2010 05:02 PM
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James Hairston
Essay #4

The Securities and Exchange Commission,   The federal Deposit Insurance Corporation,   and Social Security Act were all components of FDR’s New Deal,   which still exists today.   These programs have stood the test of time and continue to be necessary because they make sure that incidents like the Stock Market Crash don’t happen again.   Also they help insure the American people that they will be able to withdraw money from the bank without problems and lastly it set a minimum standard of living.

The Security and Exchange Commission was established by the United States Congress in 1934 as an independent, quasi-judicial regulatory agency during the Great Depression that followed the Crash of 1929.   The main reason for the creation of the SEC was to regulate the stock market and prevent corporate abuses relating to the offering and sale of securities and corporate reporting.   The SEC was given the power to license and regulate stock exchanges,   the companies whose securities traded on them,   and the brokers and dealers who conducted the trading.   Currently,   the SEC is responsible for administering seven major laws that govern the securities industry.   They are: the Securities Act of 1933,   the Securities Exchange Act of 1934,   the Trust Indenture Act of 1939,   the Investment Company Act of 1940,   the Sarbanes-Oxley Act of 2002 and most recently,   the Credit Rating Agency Reform Act of 2006.   The enforcement authority given by Congress allows the SEC to bring civil enforcement actions against individuals or companies alleged to committed accounting fraud,   provided false information,   or engaged I insider trading or other violations of the securities law.   The SEC also works with criminal law enforcement agencies to prosecute individuals and companies alike for offenses which include a criminal violation.

The Federal Deposit Insurance Corporation is a United States government corporation created by the Glass-Steagall Act of 1933.   It...


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