But many years after that, efforts of revisiting the Great Depression found many other explanations of the crash. One of the conclusions is whether the financial sector was divided was not a fundamental factor contributing to the Great Depression, and consequently, the 1933 Securities Act was an misinterpretation of the history.
Indeed, those who have undergone the situation might not be able to properly understand it. There are both superficial reasons and deep rooted reasons for explaining the occurrence of an incident. Sometimes, superficial reasons and deeprooted reasons are very different. Furthermore, many economic problems are counter-intuitive. How to properly understand and interpret history will always be a challenge for economists and policy makers alike.