Message from the Chair
Williams & Connolly LLP
Join the Section
The Federal Bar Association - Securities Law Section is a proud sponsor of the virtual museum and archive of the history of financial regulation at www.sechistorical.org this year.
While the museum is free and accessible to everyone at all times, the Section will highlight specific material and information within the museum on securities law issues in the coming months, providing current and prospective Section members with unique content and context for use at any time.
You’re invited to watch the 1971 television debate “Can Regulatory Agencies Protect the Consumer?”, as part of the Washington Debates for the 70s television series. Produced by the American Enterprise Institute and moderated by Peter Lisagor, the debate features former SEC Chairman Manuel Cohen in discussion with Dr. George Stigler, Chicago School of Economics, University of Chicago on the extent of the government’s role in the competitive system.
While Dr. Stigler believes “competition is an enormously-powerful protector” and that regulatory bodies act in the best interest of the regulated entity, not the consumer, Mr. Cohen states that “regulation is essential to preserve competition and to make it fair” and trusts that “the interest of the demanding public will deal with the stultification of regulatory agencies.” Despite such reminders of a time past as open smoking and the heavy sideburns of the men, the topics raised – both for and in opposition to regulatory agencies – still resonate today. [Note: There is a short break at around 33 minutes to switch to the second reel.]