Best known as the father of U.S. president John F. Kennedy and two U.S. senators, he also was the first chairman of the Securities and Exchange Commission in 1934. Kennedy made the SEC a credible agency by obtaining a large budget from Congress, hiring a strong staff, and vigorously pursuing swindlers. He was appointed by Franklin D. Roosevelt on the principle that through his experiences as a bank president and a stock manipulator, he would know the tricks of the trade and would be able to help create laws that would favor small investors.