Franklin Roosevelt actually said...

"These Acts give the Securities and Exchange Commission power to regulate investment trusts and investment counselors."

"Personally, I am absolutely opposed to the postponement because it means in these days—and we all know what the world situation is—nearly a year of delay."

"I have just signed the Investment Company Act of 1940 and the Investment Advisers' Act of 1940."

"We have proved one thing pretty conclusively this year and last year, and that is that we have too many men that are soft."