After the crash, reform laws were implemented to once again stabilize the market. The first step was the formation of the Securities and Exchange Commission or SEC. The SEC's role was to establish market rules and to regulate violations of those rules. Secondly, the Glass-Stegall Act was passed. The Glass-Stegall Act states that investment and commercial banks can no longer have any involvement. Third, the Federal Deposit Insurance Corporation or FDIC was introduced and established. This ensures that every single bank account is insured up to $100,000. After the crash of 1929 there was a gradual but slow improvement in the market, as mentioned before. But it was only temporary. No one could imagine that the year 1932 would bring such a huge collapse again. The crash of 1932 was so enormous that the crash of 1929 seemed insignificant next to it. There was a 50% depreciation from even the lowest point in 1929. The drop was so massive that it wiped out every bit of profit the stock market had ever had. Analysts said it would take almost for the stock market to reach the peak it reached in September 1929 30