EVENTS IN THE WORLD OF FINANCE
GLASS-STEAGALL ACT (1933) - SARBANES-OXLEY ACT (2002) - DODD-FRANK ACT (2010)
Under a descriptive and critical work around three events in the world of finance - Glass-Steagall Act (1933), Sarbanes-Oxley Act (2002) and Dodd-Frank Act (2010) - is intended to explore the American national contexts in which they occurred. In common, all these events rose from situations which resulted on strong economic and social impact in the American life. In the conclusion the doubt subsists: when is the next event expected.
The United States of America (US) went through three major events which were the signature of three documents: Glass-Steagall Act (1933), Sarbanes-Oxley Act (2002) and Dodd-Frank Act (2010). These documents should both invert cycles and avoid future repetitions of the situations that resulted on them.
Common to all the documents were contexts where deregulation resulted in strong economic and social impact in the American life.
Perhaps the creation of these three acts intended to be considered the way to the perfect system, but below is exposed that so far the result was not the expected.
Starting with the previous context to the signature of the first act in 1933, the "1929 Stock Market Crash"Ã¯Â¿Â½ is the name of an article of Harold Bierman, Jr., Cornell University, which refers that there is much to criticize about all the time lines, facts and causes that resulted on this crash. However, "black Thursday", name given to the Thursday, October 24 of 1929 is frequently repeated as the beginning of a crash that was not over earlier then 1932. At this time, stocks had lost nearly 90% of their value and there was an unprecedented large economic recession resulted from a stock price bubble.
Explaining briefly this price inflation, beyond words like optimism and speculation, the...