Day 2

Insider trading refers to the buying or selling of a publicly traded company's stock based on non-public, material information about the company. It is generally illegal because it violates the principle of transparency and fairness in the market, as it gives an unfair advantage to the insider over regular investors who do not have access to such information.

The New Deal included several significant pieces of legislation aimed at addressing the economic challenges of the Great Depression:

  • Emergency Banking Act: Provided for the reopening of banks under federal supervision.

  • Federal Emergency Relief Act: Funded state and local agencies to provide relief for the unemployed.

  • Civilian Conservation Corps (CCC): Created jobs for young men in environmental conservation projects.

  • Tennessee Valley Authority (TVA): Developed resources and improved the quality of life in the Tennessee Valley through electricity generation and flood control.

  • Rural Electrification Act: Aimed to provide electricity to rural areas.

  • National Industrial Recovery Act (NIRA): Promoted industrial growth and established the National Recovery Administration (NRA) and the Public Works Administration (PWA) for job creation.

  • Agricultural Adjustment Act (AAA): Aimed to boost agricultural prices by reducing surpluses.

  • Banking Act of 1933 (Glass-Steagall Act): Established the FDIC to insure bank deposits and separated commercial and investment banking.

  • Securities Act: Regulated the sale of securities to protect investors.

  • Securities and Exchange Act: Established the SEC to monitor and regulate the securities industry.

  • Home Owners Loan Act: Provided refinancing for homes to prevent foreclosures.

  • US off the gold standard: Allowed the government to manage monetary policy more flexibly.

  • Repeal of Prohibition: Ended the ban on alcohol, boosting tax revenues.

  • Civil Works Administration (CWA): Created temporary jobs for millions during the winter of 1933-34.

  • Farm Credit Administration (FCA): Provided assistance to farmers through loans and support programs.