Pecora hearings

2 Stories

Congress Must Grill Bankers, Depression Style

US needs something like the combative Pecora Commission

(Newser) - In the wake of the 1929 stock market crash, bankers weren't just held accountable, they were humiliated. Writing for Vanity Fair , historian Alan Brinkley looks at the agent of that humiliation: the Pecora Commission, a nasty, combative affair. The brilliant cross-examiner Ferdinand Pecora grilled the likes of JP Morgan Jr.... More »

Crisis Probe Bares Fools' Guilt-Free Fantasy

Deregulation, greed made crash inevitable

(Newser) - The Financial Crisis Inquiry Commission hasn't extracted admissions of wrongdoing from top bankers, but it has exposed stunning cluelessness among the captains of American finance, writes Paul Krugman. The honchos testified that a financial crisis is something that just happens from time to time, Krugman writes in the New York ... More »

2 Stories