Why were the FDIC and SEC established?

The FDIC (Federal Deposit Insurance Corporation) was established in 1933 in response to the widespread bank failures during the Great Depression, with the primary goal of restoring public confidence in the banking system by insuring deposits. The SEC (Securities and Exchange Commission) was created in 1934 to regulate the securities industry, protect investors, and maintain fair and efficient markets, particularly in the wake of the Stock Market crash of 1929. Together, these agencies were designed to promote financial stability and protect consumers in their financial dealings.