Good morning, Chairman Quigley, Ranking Member Womack, and members of the Subcommittee. I’m honored to appear before you for the second time as Chair of the Securities and Exchange Commission. It is good to be here alongside Federal Trade Commission Chair Khan. As is customary, I’d like to note that my views are my own, and I am not speaking on behalf of my fellow Commissioners or the SEC staff.
The Gold Standard of Capital Markets
I’d like to open by discussing two key years in economic policymaking: 1933 and 1934.
We were in the midst of the Great Depression.