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Securities market in the United States was oversaturated at the beginning of the past century. President Hoover, according to Romasco, together with the business circles representatives claimed that businesses could help prevent the problems on the stock market by helping the state provide clear and transparent financial data about their company performance. However, with the introduction of the securities Act this became a major controversy between the politicians and businessmen.

Hawkins claims that the vision of the politicians and the business community did not coincide in some of the major economic concerns and problems. For this reason, the laws that were about to help the economy had a controversial effect on the organizational performance in the country and the national economy as a whole. Securities Act that was approved at that period of time involved more publicity of financial information. This was something that supposedly the businessmen wanted to achieve. However, the extent towards which the Act was implemented did not cause the positive effect due to its neglecting of the common business practices. The information which is shared with shareholders should remain secure, and the Act did not provide this security anymore.

The economy during the slow period of development in the beginning of the twentieth century was calling for change. The primary change was to occur in the sphere of legislation. The importance of the securities market regulation meant a lot for further economic growth of the United States, first of all because it directly influenced the strong national currency, i.e. US dollar. The security market was exhausted with false information, bad financial reporting system, and that is why reforms were about to take place in order to replace the old legislation with new regulatory laws. However, the way in which these laws at the time of Roosevelt Administration revived the economy was not straightforward.

Code: Sample20

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