The New Deal

By: Jackson Callis

Franklin Delano Roosevelt

FDR was our 32nd president

Famous Quote: the only thing we

have to fear is fear itself

A man with a plan, he transformed

our stagnant economy back into a
rich and bountiful thing, getting
America back on track

Great Depression

The Great Depression was a period of

extremely low economic activity with
high unemployment rates, many
bankruptcies of businesses, and
failing stock prices

It was worse than anything the United

States had ever seen, with millions
out of jobs

Great Depression (continued)

The cause of the Great Depression

was the Stock Market crash of 1929

This in turn was caused by most

stocks being overvalued and sold

Once the selling began and the prices

began to drop, a selling frenzy began,
which caused uneasiness in the
stockholders mind, along with the
frenzy spilling over into other stocks,
affected the entire market

The New Deal

The new deal was a series of

programs, bills, and organizations that
were instituted to pull the citizens of
the United States out of poverty while
improving the condition of the
infrastructure, living conditions, etc.
of the people of the United States

In all there were 42 newly created acts

and agencies, the five most important
being the:

FDIC- Federal Deposit Insurance

Corporation

NRA- National Recovery Administration

SSA- Social Security Administration

PWA- Public Works Administration

SEC- Securities and Exchange
Commission

The New Deal (continued)

The three main principles of FDRs

new deal were:

Relief
Reform
Recovery
Another theme was:
Preparation

Another big principle (although not as

big) was preparation, there were
some commissions, administrations,
corps, etcetera that had parts
directed toward keeping the nation
from heading down this road again

Securities and Exchange Commission

A commission created for dealing with

the stock market and other such
trade industries

It was instituted mainly for keeping

the market trades healthy and
keeping the markets from crashing

Formation

The SEC was created on June 6, 1934 Being one of the more important
by section 4 of the Securities
agencies to be created, FDR and its
Exchange Act of 1934
creators hoped the SEC would be able
to handle future economic situations
Drafted in as a part of the New Deal
by Benjamin V. Cohen, Thomas
Corcoran, and James M. Landis

Encompassing Acts

When being created the Sec was

given the duty to enforce the
requirements of 2 big acts, along with
other smaller statutes
These acts basically state that the
SEC must regulate the financial
markets and the trading that goes on
in them

The Securities Act of 1933 requires

people/businesses to register a sale of
financial assets or securities

It also delegates to the SEC the job of

requiring businesses to disclose to
buyers complete and accurate
information before they can invest in
securities

The Securities Exchange Act of 1934

requires the SEC to regulate the primary
and secondary markets, the difference
being the trade relationship, issuer
(company or business to issued is
primary, and issued/now issuer to issued
is secondary

Mission

Their mission (in their words) is: The

mission of the U.S. Securities and
Exchange Commission is to protect
investors, maintain fair, orderly, and
efficient markets, and facilitate capital
formation

Its primary responsibility, a broad

one, is enforcing the federal laws that
deal with securities (securities being
financial assets)

Currently the SEC commissioners are

Michael Piwowar, Luis A. Aguilar,
Daniel M. Gallagher, Kara Stein, and
Mary Jo White (pictured below)

Duties

The SEC, or Securities Exchange

Commission has to regulate the
primary and secondary securities
markets

Regulate meaning keeping market

purity, if the statistics of a company
are off, and it seems as though that
company is conducting illegal
business or is a phantom business (a
company that doesnt actually exist,
but sells its own stock and other
financial assets) it is the SECs job to
eliminate or hold responsible that
company

In simpler terms it was and is the

SECs job to eradicate untruthful
businesses with unjust practices, and
remove phantom stocks from the
market

Criticism

Overall the SEC has done a very good

job and carried out the principle and
requirement s stated in its mission,
but inevitably there are times where
people mess things up badly
One of the main things they are
criticized for is not pursuing cases or
companies and sort of dropping issues
and complaints with others

Another big area of concern is their

large documents dumps, possibly
getting rid of a lot of evidence of
mistakes and even corruption
(although corruption is not as likely)

How it Affects Georgia

Being one of the agencies responsible

for a more general field, the SEC
didnt have much to do with Georgia
that differed with all the other states

But nonetheless the SEC has done its

job in protecting the investors of
Georgia, and helping to keep the
money flowing

Legacy

Many of the new deal agencies were

retired years after they finished
helping the then current situation, but
many others stayed behind, such as
the SEC, which has been through
almost 81 straight years of service
Even as times have changed, the SEC
is still going strong, protecting our
nations markets and its investors

Its legacy from the past the millions

upon billions of dollars that is has
saved investors from losing to crooks

Works Cited
1. Sosnoff, Tom. "Securities and

3. "US Securities and Exchange

Commission." Wikipedia. Wikimedia
Foundation, 10 Mar. 2015. Web. 11
Feb. 2015.
<http://en.wikipedia.org/wiki/Main_Pa
ge>.

4. "Franklin D. Roosevelt." The White

House. The White House, 2006. Web.
10 Mar. 2015.
<http://www.whitehouse.gov/1600/pre
sidents/franklindroosevelt>.

5. "The Investor's Advocate." SEC.gov.

N.p., 10 June 2013. Web. 12 Mar.
2015.

Exchange Commission." Investopedia.

Investopedia, n.d. Web. 9 Mar. 2015.
<www.investopedia.com/terms/s/sec.
asp>.

2. "Voki Tip of the Week: Voki on

PowerPoint." The Official Voki Blog.

Voki, 26 Nov. 2012. Web. 12 Mar.
2015.
<http://blog.voki.com/2012/11/26/vok
i-tip-of-the-week-voki-onpowerpoint/>.

The End

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