The New Deal affected the lives of many Americans in the 1930's. This deal was a set of federal programs launched by President Franklin Roosevelt after taking office in 1933, in response to the Great Depression. The New Deal had very ineffective deals, however some deals lasted throughout the journey. Those deals were the Federal Deposit Insurance Corporation (FDIC) and the Securities and Exchange Commission (SEC). The FDIC and SEC were lasting factors to the New Deal because they were set to promote and preserve public confidence in banks at the time and regulate securities of the most severe banking crisis in the U.S History, in which justified economic recovery, job creation, investment, and civic uplift.
The Federal Deposit Insurance Corporation, otherwise known as the FDIC, was a key factor to economic recovery. The FDIC was established in 1933 to prevent a repetition of the financial bankruptcy that occurred during the Great Depression. It provided coverage for deposits in national and state banks around the US. The main area which allowed the FDIC to last till today was because it provides deposit insurance guaranteeing the safety of a depositor's accounts. This lies under recovery. Since the start of this corporation's insurance, no depositor has lost any insured funds as a result of a failure which eased the minds of many.
The Securities and Exchange Commission also eased the minds of many with its funding. The SEC is a government commission created by Congress to regulate the securities market and protect investors. It was created in 1934 to regulate the stock market after the crash. The goals included preventing people with inside information about companies from "rigging" the stock market for their own profit. This lies among the lines of recovery and reform. It is also designed to promote full public disclosure and to protect the public with investing against fraud. The SEC still runs today, helping people with their investments.
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