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There was a hostile attitude
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between business and the original SEC.
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Franklin Delano Roosevelt
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was viewed as very left-wing by business
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and very contrary to American values.
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But in fact, the SEC promoted the very free-market concepts
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that were widely believed in this country.
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Basically, what it did was it made it feel that
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people wouldn't get cheated;
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the SEC was a strong regulator
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and it really did restore confidence
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in the financial markets in this country.