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Paul Greene: SEC Founded Out of Necessity

The stock market crash of 1929, as Paul Greene and SEC experts know, opened
the American pulic!s e"es up to the need for real re#ulator" form, particularl" in
the securities industr"$ %efore the crash that shook the national econom" and
fore&er chan#ed the wa" people percei&ed the world of in&estment and
securities, that was little percei&ed awareness of or demand for market and
exchan#e re#ulation$ The impact that the market crash had on the countr" was
enormous and immediate, and, as Paul Greene and SEC experts are aware,
awakened people to the need for sweepin# reform and re#ulation$
Soon after the 1929 crash, con'dence in the 'nancial marketplace hit an all(time
low, and placed oth anks and in&estors into a desperate 'nancial situation$
Great amounts of mone" were lost " or#ani)ations and indi&iduals throu#hout
the countr", expeditin# the comin# Great *epression and lea&in# the countr"
with more +uestions than answers$ A #rowin#l" desperate economic situation, as
Paul Greene and SEC experts know, put pressure on oth Con#ress and the
Presidenc" to take swift action, which e&entuall" led to the appro&al of the
Securities Act in 19,,, as well as the Securities Exchan#e Act of 19,-$
The Securities and Exchan#e Commission was estalished as a result of these
acts in 19,-, a re#ulator" and enforcement od" desi#ned to enforce the newl"
passed securities laws of the da"$ Then(President .ranklin *elano /oose&elt
appointed 0oe 1enned", a Con#ressman at the time, to e the 'rst e&er Chairman
of the SEC$
As man" people know, the SEC is manned " '&e presidentiall"(appointed
people2 '&e commissioners that currentl" head up operations of the in&aluale
#o&ernment a#enc"$ As Paul Greene and SEC experts know, the commission is
allowed no more than , people of an" part" to ser&e at an" #i&en period, a
measure taken to ensure that partisanship ne&er ecomes the dri&in# factor
ehind SEC decision(makin#$ *i&ided up into '&e separate and uni+ue di&isions,
as Paul Greene and SEC experts are aware, the Securities and Exchan#e
Commission is currentl" the emplo"ment home of more than ,344 pulic
ser&ants, and has 2, o5ces$
6ead+uartered in 7ashin#ton *C, the SEC continues to work in the est interests
of the in&estin# communit", stri&in# to maintain order and fairness in the 'eld of
securities$ Paul Greene and SEC experts are proud to e a part of a nation that
pro&ides oth in&estors and consumers protection from fraud and malfeasance$