January 01, 2015

Introduction: The Practitioner's Guide to Securities Arbitration

Jason R. Doss and Richard S. Frankowski

From The Practitioner’s Guide to Securities Arbitration, Chapter 1

A healthy United States financial market is crucial to the viability of our nation’s economy and to the personal financial security of our citizens. The history of our nation’s financial markets, however, has been marked with volatility. During periods of economic growth the financial health of Americans has flourished. During periods of economic downturn, on the other hand, massive amounts of wealth have been lost. For example, in total, $25 billion—$319 billion in today’s dollars—was lost in the 1929 stock market crash. The downturn of 2008 was no different. In 2008 alone, America suffered a historic loss in wealth totaling approximately $10.2 trillion.1 Over $6 trillion of that amount was attributed to losses in the stock market.2

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