Chapter

Wall Street Meets the New Deal (1930–35)

Charles R. Geisst

in Wall Street

Published in print September 1999 | ISBN: 9780195130867
Published online November 2003 | e-ISBN: 9780199871155 | DOI: http://dx.doi.org/10.1093/0195130863.003.0008
 Wall Street Meets the New Deal (1930–35)

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The reaction from Washington to Wall Street woes. Hoover calls Senate investigation into market practices, Roosevelt wins White House, short selling depresses market, F. Pecora becomes lead counsel for hearings. Wall Streeters give testimony. Congress passes banking and securities acts in 1933. Stock exchanges regulated in 1934 and SEC is created.

Keywords: banking act; Great Depression; Herbert Hoover; investment banks; market practices; Pecora hearings; regulation; SEC; securities act; short selling

Chapter.  20783 words.  Illustrated.

Subjects: Economic History

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