We have updated our Privacy Policy and Terms of Use for Eurasia Group and its affiliates, including GZERO Media, to clarify the types of data we collect, how we collect it, how we use data and with whom we share data. By using our website you consent to our Terms and Conditions and Privacy Policy, including the transfer of your personal data to the United States from your country of residence, and our use of cookies described in our Cookie Policy.
{{ subpage.title }}
What is the role of the SEC?
What is the role of the SEC?
So, the SEC has three roles: The first is to protect the investing public. The second is to help maintain fair, efficient and orderly markets. And the third is to facilitate capital formation.
Why was the SEC created?
So, for that you kind of have to go back in history, back in time to the Great Depression. It was created then to restore public confidence. And to help establish some baseline public disclosure standards, standard dealing practices. Congress had passed the Securities Act in 1933 and then the Securities Exchange Act in 1934. The SEC was created under the 1934 Act in order to enforce the securities laws that were being passed.
Ian Bremmer: COVID-19 Economic Shock & What's to Come: Domestic, Global Decisions
The Great Depression proved a turning point in American policy. What will be the applicable lessons for this coronavirus crisis in 2020 and beyond? Ian Bremmer discusses.
Even before the coronavirus crisis hit, 40% of Americans said they would have difficulty paying an unexpected bill of $400. Since then, tens of millions of Americans have lost their jobs. Is the US headed for a 2nd Great Depression, as economists such as Joseph Stiglitz suggest? We've had to shut our economy down to slow the spread of the coronavirus. Will there be appetite for a new, New Deal? This crisis is different, with 2 emergency rate cuts from the Fed. And what will happen globally, where a multilateral solution will be more challenging?
Is a second great depression coming? Adam Tooze on international economic crisis
Many of us experienced the major economic impact of the Great Recession from 2008-2010. The definition of a "depression" is harder to articulate, even for economists, because the US hasn't had one since the 1930s. But as unemployment rises and lockdowns to limit the spread of the coronavirus threaten the existence of businesses here in the US and around the world, we ask the question: Is another depression a possibility, and what would that look like today?
On this episode of GZERO World, Ian Bremmer poses this question to Columbia professor, economic historian, and author Adam Tooze. The two discuss the strength of the US and global economies before and during the COVID-19 pandemic, and realistic timeframes for when the financial outlook will improve.