Franklin Roosevelt’s presidency is remembered by the public largely for the social programs of the New Deal and for his successful prosecution of US involvement in World War II. But perhaps as significant was the fundamental change in the role government plays in the regulation of financial markets. Simply put, prior to Roosevelt there was not much of a role at all.
Author Diana Henriques takes a deep dive into how and why the regulatory regime that exists today came to being over the strenuous objection of some rich and powerful foes in her new book, “Taming the Street: The Old Guard, the New Deal and FDR’s Fight to Regulate Capitalism.”
