Entries tagged "Pecora"
Nancy Pelosi and Harry Reid finally released the list of names to man what's come to be thought of as their new Pecora hearings into the causes of the financial crisis.
House speaker Nancy Pelosi has announced plans to begin a new Pecora-type commission; never mind the fact that unlike Ferdinand Pecora's era, the Depression, Congress no longer has the same control over the debate it once had.
In Tuesday's New York Times, the estimable Ron Chernow lobbies for Congress to find a new Ferdinand Pecora to investigate "the origins of the current crisis." In truth, Chernow, like Pecora in the '30s, appears less interested in that large and complicated subject and more in dragging Wall Street to the bar and tossing a midget in its lap. There is no doubt that the cigar-chomping Pecora did reveal a number of seamy practices on Wall Street, but what Pecora did not do (despite an illustration for Chernow's piece that effectively deifies him) was reveal the deeper origins of the...
