Security Exchange Act of 1934
Cry Wolf Quotes
The national securities act of 1934, as proposed, would interfere in a vital way with the essential supply of capital to business.
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George Houston, National Association of Manufacturers, Vice President
The Securities Act of 1933 created a serious obstacle to recovery, through its drastic regulation of the issuance of new securities by private enterprise. The Banking Act of 1933 created an additional impediment through the provisions of Section 16 prohibiting the national banks from participating in underwriting securities after June 16, 1934.
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George Houston, National Association of Manufacturers, Vice President
Taken together with the Securities Act of 1933 (the 1934 Act) will effectively bar the flow of capital into American business.
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George Houston, National Association of Manufacturers, Vice President
It would help me by driving 85 per cent of my competitors out of business, if I could manage to keep out of Atlanta or Leavenworth myself.
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Steve Pearce, biggest wire broker of the time, on creation of SEC
