In fact, over the course of American history, the federal government has created and employed key organizations explicitly, 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. And almost 80 years later, Congress passed the Dodd Frank act in response to the 2008 financial crisis, strengthening consumer protections against financial market abuse, implementing updated transparency and accountability requirements for the entire system. (12:48–13:00)
CLAIM
Asserts that the SEC was created during the Great Depression to regulate the financial industry.
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.
