ACTS OF 1933
Emergency Banking Bill: This was the bill issued during the "bank
holiday" to reorganize and strengthen solvent banks before they were
Glass-Steagall Act of 1933: This act separated commercial from
investment banking and created the Federal Deposit Insurance Corporation
to protect small deposits.
Farm Credit Act: This act refinanced a fifth of all farm mortgages
for a period of 18 months, and created the Farm Credit Administration.
National Industrial Recovery Act: This act created a massive
program of public works, guaranteed workers the right to bargain collectively,
established codes of fair practice and trade, and created the National
Recovery Administration to carry them out.
Truth-in-Securities Act: This act requires anyone offering stocks,
bonds or other securities for sale to make a "full and fair disclosure"
of financial and other information relating to the issues involved. It
also mandated that companies disclose the securities holdings of their
officers and directors. This was after years of dishonest dealings by investors
seeking to cut their losses short as the Depression worsened. The next
year, in 1934, the Securities and Exchange Commission would be created
to better carry out the provisions of the Act.
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