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The John Batchelor Show

#MrMarket: Ninety years ago, the New Deal birth of the SEC. Simon Constable, WSJ

The John Batchelor Show

John Batchelor

Society & Culture, Arts, News, Books

4.52.8K Ratings

🗓️ 11 May 2023

⏱️ 12 minutes

🧾️ Download transcript

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#MrMarket: Ninety years ago, the New Deal birth of the SEC. Simon Constable, WSJ
https://en.wikipedia.org/wiki/U.S._Securities_and_Exchange_Commission

Transcript

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0:00.0

Presenting Hop On Board, a podcast series by Southeastern, six podcasts, six celebrity

0:06.2

hosts, taking you on a whistle-stop tour of some of the best places to explore by rail

0:10.8

on the Southeastern network.

0:12.4

Join Greg Wallace as he tucks into delicious food and drink, rav-wilding, uncovering unsolved

0:17.7

mysteries and spooky happenings, and Miranda Sawyer getting arti on the Ken Coast.

0:22.7

Get the inside track on Kenton East Sussex with Hop On Board, listen now wherever you

0:27.1

get your podcasts.

0:30.0

I'm John Batchett, May 1933.

0:34.4

The newly inaugurated President Franklin Roosevelt signs the law called the Truth and Securities

0:40.2

Act, also known as the Rayburn Fletcher Securities Bill.

0:44.3

Helping us understand the significance of this decision by the nascent New Dealers, Simon

0:50.4

Constable who writes for the Wall Street Journal and Barons, and other distinguished publications,

0:56.0

making us in a time machine to May 29, 1933.

1:01.0

Simon is in France and watching America's Securities Law from the distance of the other

1:07.3

side of the Atlantic Ocean.

1:09.8

Reminds all of us that these Securities Laws have made the New York exchanges the most

1:16.0

advantageous in the world to offer your public offering because of the transparency and the

1:23.5

law keeping.

1:25.3

However, this is the beginning of that long saga, 90 years ago, right now.

1:33.7

Simon, a very good day to you.

1:35.1

I celebrate the New Deal for right away making the right decision about how Wall Street

1:40.2

wasn't trusted after several days of crash in 1929.

...

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