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Richard A Schacht 1934 - 2004

Richard A Schacht of Lexington, Fayette County, KY was born on October 19, 1934, and died at age 69 years old on May 16, 2004.

Richard A Schacht

Lexington, Fayette County, KY 40515

October 19, 1934

May 16, 2004

Male

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Richard A Schacht Richard Schacht (1934 - 2004)

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Richard A Schacht's History: 1934 - 2004

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10/19

1934

Birthday

October 19, 1934

Birthdate

Unknown

Birthplace

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05/16

2004

Death

May 16, 2004

Death date

Unknown
Cause of death

Unknown
Death location

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Richard A Schacht lived 7 years shorter than the average family member when died at the age of 69.

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Richard A Schacht lived 7 years shorter than the average family member when died at the age of 69.

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In 1934, in the year that Richard A Schacht was born, on June 6th, the U.S. Securities and Exchange Commission was formed as a response to the stock market crash of 1929 and the continuing Great Depression. Previously, the states regulated the offering and sales of stocks - called "blue sky" laws. They were largely ineffective. Roosevelt created a group (one member was Joseph Kennedy, father of the future President Kennedy) who knew Wall Street well and they defined the mission and operating mode for the SEC. The new organization had broad and stringent rules and oversight and restored public confidence in the stock market in the United States.

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In 1943, Richard was just 9 years old when on June 20th through June 22nd, the Detroit Race Riot erupted at Belle Isle Park. The rioting spread throughout the city (made worse by false rumors of attacks on blacks and whites) and resulted in the deployment of 6,000 Federal troops. 34 people were killed, (25 of them black) - mostly by white police or National Guardsmen, 433 were wounded (75 percent of them black) and an estimated $2 million of property was destroyed. The same summer, there were riots in Beaumont, Texas and Harlem, New York.

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