Monday, January 30th

[3Marielle]

Connor continued with his presentation today.-The NRA was declared unconstitutional because it did what the states were supposed to do. In the course of those events, it ended in 1935. The NIRA had a two year expiration and it ended in 1935 because the government shouldn't do the states job. NIRA stands for National Industrial Recovery Act.Gabriel: The Securities And Exchange Act (SEC) is a government commision created in 1934 by Congress to regulate the securities markets and protect investors. The SEC includes the power to register, regulate, and oversee brokerage firms, transfer agents, and clearing agencies. The "protected" the New York Stock Exchange and American Stock Exchange. The Act identifies and prohibits certain types of conduct in the markets and provides the Commission with disciplinary powers over regulated entities. Companies with more than $10 million assets whose securites are held by more than 500 owners must file annual and other periodic reports. The securities laws broadly prohibit fraudulent activites of any kind in connection with the offer, purchase or sale of securities. The Securities and Exchange Commission today charged Daniel Ruettiger and 12 other participants in a scheme to deceive investors into buying stock in his sports drink company. The Banking Act of 1935 reoganized the Federal Resere Board and empowered it to control the reserve requirements , discount operations, interest rates, and open market operations. The Banking Act strengthened the powers of te FederalReserve Board of governers, tightened existing restrictions on banks engaging in certain activities and enlarged the supervisory powers of the FDIC. The FDIC was supposed to be purchased by the Secretary of the Treasury on behalf of the US. The Banking Act mad the FDIC a permanent agency.Brayden-Food, Drug and Comsetic Act (FDC) and Agricultural Adjustment Act: passed in 1938, gave authority to overlook the production of food, drugs, and cosmetics. This act was tossed aside in recent years. There was a terrible mistake in 1937 with a Elixir Sulfanilamide Disaster. The medicine killed at least 100 patients, and the man that made the medicine committed suicide because he didn't want to go through all of the problems that he would have with people hating him. The AAA's purpose was to lower the crop surplus and get the value of crops to go up. It was passed in 1933 and enacted in 1938. The government payed a sum of money to not plant a part of their farmland.