Go far enough back in the past and everything was legal. The history of the stock market is the history of new rules being added, new laws being passed, all to

Go far enough back in the past and everything was legal. The history of the stock market is the history of new rules being added, new laws being passed, all to restrict how you can buy and sell stocks. Back in the 1920s I could make a company, issue a bunch of stock, and then go around telling people how amazing and profitable my company is, selling stock door to door.