Essay on Wall StreetNyse  Scam  Regulating Acts

WALL STREET/NYSE – SCAM – REGULATING ACTS

PREVIOUS AND PRESENT

RESEARCH PAPER

AUDITING

SHUTTLE BUS 469

Nov 22, 2006

[pic]

WALL MEMBRANE STREET/NYSE – FRAUD – REGULATORY ACTS

PAST AND PRESENT

I am starting this kind of paper having a short good The Stock market in America, Wall Street, and the New York Stock Exchange. This will business lead into the data corruption that took place before the 1929 stock market crash and the major depression. I will then touch for the result of that corruption as well as the regulatory serves that followed. From there I will move to the current times and the regulatory work that was a result of each of our modern day file corruption error. By looking by both of these areas in history I am hoping to find similarities of the two eras and bring these out in my conclusion.

America's first stock exchange was founded in Philadelphia in 1790. In New York City, March of 1792, 24 leading merchants intended secretly to create a way to weasel away the securities exchange business that was after that dominated by auctioneers. These same merchants signed a record on May 18, 1792 called the Buttonwood Agreement. It was the birth of the New York Stock Exchange. The agreement was thus known as because of their conference place with the foot of Wall Street under the Buttonwood Forest.

Our background will now have us for the ‘Gilded Age' 1865-1901. During this period the world found unprecedented monetary growth; local, industrial, and population growth. In 1871 Mark Twain said in one of his many renowned speeches, " What is the primary end of man? —to get wealthy. In what way? —dishonestly if we can easily; honestly whenever we must. ”[1]

Not only do wealth expand during this period nevertheless also file corruption error. There were the filthy rich and the dirt and grime poor with nothing in between.

Through the early on 1900's Wall Street continued to grow advances and you possess. The initial wave of panic was in 1907 the moment Knickerbockers Trust Company closed its doors. JP Morgan slipped in and persuaded leading NW bankers to set up a single bank trust that, of course , Morgan's own group had controlling interest of. The largest banking companies throughout the US contributed to the loans of this trust.

The que contiene games were at complete capacity by the ‘Roaring Twenties' both the abundant and the poor were ordering stocks and bonds whether or not they had the bucks or not. They would borrow money to purchase all of them. This strategy performed as long as industry went up, but when it started to crash lots of people shed lots of money fast. Large open public companies had been padding all their bottom line to convince the public that they had been a good deal. That seemed as if they were saying something like, ‘invest in all of us and we forces you to rich. ' Stock prices were further than any realization of presently there actual worth. Between March 23rd and October 29th the market dropped 80 factors. Some content articles that I examine said that traders and stockholders alike jumped out with their windows when the market chop down completely separate on August 29, 1929; some content said these were merely stories which nobody basically committed committing suicide in that vogue, but there are some suicides.

This was as well the age of brand new inventions like the telephone, electrical energy, radio, plus the automobile. In 1922 the Fordney-McCumber tariff act was passed by Republican federal government to allow American businesses to thrive by protecting these people from foreign competition. Andrew Mellen, Secretary of Treasury, cut surtaxes from 50 percent to twenty percent; this allowed large corporate and business companies to control their point of view markets. There were an overall consensus with the many articles that we have read, that this take action was partially to blame for the 1929 crash. The market did not stop shedding on August 29th; that continued shed and finally come to its lower part in 1933 where it was down many of these from the market highs of the late 1920's. At this point the banking devices started faltering by the hundreds. The ‘Great Depression' began as a result of this in 1930, it took till 1954 pertaining to the Market to succeed in...

References: Book

Boynton, Johnson, 8th Edition, 2006, Modern day Auditing, web pages 155-167

Net Resources

Simply no Author, A history of the Currency markets, Retrieved November 19, 06\ from the The net: www.hermes-press.com/wshist1.htm

http://auburn.edu/~garriro/c5fedres.htm

No Creator, SIFMA, SIA Primer on Securities-Securities Take action of 1933, On Capitol Hill, Recovered November 19, 2006 in the World Wide Web: http://sia.com/capitol_hill/html/securities_act_of_1933.html

Gould, Bill D & Coleman, Thomas Henry, Business Law1-Corporate Scams Brought Tight New Laws, Retrieved January 2, 06\ from the World Wide Web:

http://www.ceb.com/newsletterv4/business_law1.htm

Faulk, Mark, The Circle of Greed: The Cloak of Invisibility, Recovered December two, 2006 in the World Wide Web: http:wwwfaulkingtruth.com/Articles/Investing101/1057.html

-----------------------

Market Analysis of Haagan-Dazs Essay