Quote – Frank Gordon, president of the Investment Bankers Association

No corporation director is going to risk existing resources by putting his name on financing under a law that makes him personally liable for the next ten years and adopts the unprecedented principle that he is to be judged guilty unless he can be proven innocent.

“Security Act Held A Bar To Recover: It May Lead To Wholesale Defaults, F.M. Gordon Warns Investment Bankers”, New York Times

Tuesday, October 31, 1933