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Federal Regulatory Agencies. Reference library
Thomas K. McCraw
The first federal regulatory agency was the Interstate Commerce Commission (ICC). Created in 1887 after decades of controversy over “the railroad problem,” the ICC in many ways served as a model for future agencies. Like the ICC, they were established by Congress in response to crises in particular industries (or, occasionally, across industries). Staffed with persons thought to be experts and bipartisan or nonpartisan by law, most were nevertheless plagued by continual controversy....