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finance a la shmoop what is the Securities Amendments Act of 1975

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alright people before 1975 we're thinking Nixon era here trading stocks [People greeting Nixon]

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was very much a regional thing New York was the Sun and the rest of the world

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well more or less just orbited the 1975 Act created a national market clearing [Countries orbiting galaxy]

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system so that a share of IBM traded for generally the same price in California

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Georgia New Hampshire and New York this way smaller less liquid regional systems [US states appear beside IBM]

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or regional pieces or regional trading bins weren't penalized with higher

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transaction costs than you know those suit-and-tie wearing wolves on Wall [Transaction costs crossed out]

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Street and that's pretty much it that's what the 1975 securities Amendment Act

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was all about basically it just was passed to ensure that the SEC would

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consider any new regulation that might come down the pike from that point

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forward in terms of fairness across a level playing field [Moving through a tunnel]

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nationally yeah fairness or the wind [Football player placing football on the field]

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