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NCJRS Abstract

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NCJ Number: 119384 Find in a Library
Title: Origins of Federal Securities Regulation (From Values in the Marketplace: The American Stock Market Under Federal Securities Law, P 23-44, 1988, James Burk -- See NCJ-119382)
Author(s): J Burk
Date Published: 1988
Page Count: 22
Sponsoring Agency: Walter de Gruyter & Co
1 Berlin 30, Germany United
Sale Source: Walter de Gruyter & Co
Genthiner Str 13
1 Berlin 30,
Germany (Unified)
Type: Report (Study/Research)
Language: English
Country: West Germany (Former)
Annotation: This chapter examines the events leading to the stock market crash of 1929 and the development of Federal legislation to regulate the stock market.
Abstract: After the 1929 crash, public outrage at the morally lax behavior of some investors and financiers led to strong pressures for Federal control over the stock market. Initial Federal legislation was intended to regulate market conduct. However, since compromise is necessary to pass legislation, the sharpness of the moral outrage was blunted, and the government's regulatory authority was clouded. The legislation that was passed resulted in changes to the market that were not anticipated. The role of political contingencies on the proposed legislation is discussed in detail, as are the effects of the economic depression of the 1930s, pressures from the electorate to control the stock market, and the Federal government's role as intervenor. 60 footnotes.
Main Term(s): Securities fraud
Index Term(s): Federal regulations; Regulatory agencies; Securities and Exchange Commission
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