But time after time, executives at the highest levels have shelved these projects in favor of maintaining maximum profitability. The consequences of that are not new. In fact, over the course of American history, The federal government has created and employed key organizations explicitly designed to keep pace with rapidly developing industry things like cars, airplanes, and banks. These agencies help inform regulations and guidance designed to protect consumers. The Great Depression forced Congress to create the securities and Exchange Commission and tasked it with oversight and regulation of the financial industry to protect investors. (12:29–12:43)
CLAIM
Asserts that the U.S. government has historically created agencies to regulate rapidly developing industries.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
