Notes:
- The FDIC was created by congress
- It started after the great depression to make sure that the peoples money would be sage if the banks failed again.
- It was started after the glass-steagall act in 1933
6 values of the FDIC
- Intergirty
- competence
- teamwork
- effectivness
- accountability
- fairness
- this allows people to be able to put no more that 250,000 in the bank and it will be secure if the banks fail again.
SEC
- Regulates buying and selling
- Sustain a growing a growing economy that produces jobs, improve living standards.
- Protect investors, maintain fair orderly and efficient markets and facilitate capital formation.
- SEC has the power to license and regulate the stock market.
- Stock pool-pool together
- Buying on margin-borrowing
- Stock watering-Is an asset with an artificially-inflated value.
Social security system
- Federal program of social insurance with benefits.
- Roosevelt's new deal.
Benefits then
- retirement income
- Disability income
- Dependent children
- Unemployment
Benefits now
- Retirement
- Survivors and death benefits
- Disability
- Medicare
Welfare
- British poor laws
- Migrant workers, people who were committing crimes, elderly, children
- Great depression-Grants to groups
- 1996 personal responsibility and work opportunity reconciliation.
- Present day welfare
- Need to try to find a job.
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