Pelosi Sets Wall Street Probe Modeled on Pecora in 1933

Pelosi Sets Wall Street Probe Modeled on Pecora in 1933 After Market Crash
www.bloomberg.com...
sfgate.com
www.huffingtonpost.com...
www.larouchepub.com...

April 21 (Bloomberg) -- Wall Street may be heading for the deepest investigation of its practices since a congressional panel’s probe of abuses following the 1929 stock market crash.

House Speaker Nancy Pelosi plans to push for a comprehensive inquiry, saying that three-quarters of Americans want to know what led to the bankruptcy of Lehman Brothers Holdings Inc. and the collapse of Bear Stearns Cos. and Merrill Lynch & Co. She favors one patterned after Senate Banking Committee hearings led by Ferdinand Pecora starting in 1933, according to her spokesman, Nadeam Elshami.

The Pecora review “was probably the single most important congressional investigation in the history of our country, except perhaps the Watergate hearings,” Donald Ritchie, associate historian for the U.S. Senate, said in an interview.

More at Link...

Now...I wonder how long it will take for this headline to disappear...

Seems every time some "Witch Hunt" is started, it just kind of fades away...

Anyone remember the "outrage" over the AIG bonuses ??? Right...

Your thoughts ???

[edit on 4/21/2009 by Hx3_1963]

Here's a little background on the original commission...

Pecora Commission
en.wikipedia.org...

The Pecora Investigation is the name commonly used to describe the inquiry begun on March 4, 1932 by the United States Senate Committee on Banking and Currency to investigate the causes of the Wall Street Crash of 1929. The name refers to the fourth and final chief counsel for the investigation, Ferdinand Pecora.

More at Link...

[edit on 4/21/2009 by Hx3_1963]