Comments on: A New Pecora Commission

By: Financial Crisis Panel Starts Today; Should the Banking Industry Worry? | GSA Schedule Services

Thu, 17 Sep 2009 14:15:34 +0000

[...] many of its friends, the financial industry is likely breathing a little easier than it was when the panel was proposed in April. Filed under: Government Spending Leave a comment Comments (0) Trackbacks (0) ( subscribe to [...]

By: Financial Crisis Panel Starts Today; Should the Banking Industry Worry? | The Lie Politic

Thu, 17 Sep 2009 14:07:58 +0000

[...] With the commission stacked with so many of its friends, the financial industry is likely breathing a little easier than it was when the panel was proposed in April. [...]

By: kevin

kevin — Thu, 16 Apr 2009 15:20:14 +0000

This is long overdue. The Pecora investigations -- especially the revelations about mismanagement and insider trading at JP Morgan -- served as an important first step to the financial reforms of the New Deal.
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I know the current Beltway wisdom is to let bygones be bygones (IOKIYAR!) but this is one area in which a full accounting is absolutely necessary.
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Let them scream "class warfare" all they want. They've been fighting a class war for three decades now, and it's finally time we see how it worked.

By: Business & Finance Blogs » Blog Archive » Links for 2009-04-15 [del.icio.us]

Thu, 16 Apr 2009 07:58:22 +0000

[...] A New Pecora Commission :: Swampland - TIME.com House Speaker Nancy Pelosi said today she'd like to form a Pecora-style commission to investigate what happened on Wall Street that perpetrated the financial crisis. Ferdinand Pecora was appointed chief counsel to the Senate Banking and Currency Committee by Herbert Hoover in 1929 but it was his work under FDR ferreting out bankers whose insider trading helped caused the Depression and those who profited from the collapse through short selling that earned him fame. His investigations led to the Securities Act of 1933 and the Securities Exchange Act of 1934. [...]

By: shepherdwong

shepherdwong — Thu, 16 Apr 2009 02:32:12 +0000

"That being said, even when Pelosi is doing the right thing she sounds like a complete, clueless idiot." . Have to correct you again: she looks like a deranged idiot, she sounds quite reasoned and serious. Do what I do: just don't watch. . Good post, JNS.

By: sqr1

sqr1 — Thu, 16 Apr 2009 01:55:09 +0000

If Pelosi can get this going then I will take back at least 50% of the mean things I've said about her.
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[Insert reference to blind squirrels and stopped clocks]
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I'll take whatever I can get in terms of investigations. That being said, even when Pelosi is doing the right thing she sounds like a complete, clueless idiot.

By: Cliff

Cliff — Thu, 16 Apr 2009 01:48:44 +0000

If Pelosi can get this going then I will take back at least 50% of the mean things I've said about her.

By: Art Pepper

Art Pepper — Thu, 16 Apr 2009 00:52:59 +0000

Maybe we could have a commission to investigate whether the Bush administration violated the Geneva Convention.
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No, wait, that would be CRAZY.

By: kbanginmotown

kbanginmotown — Thu, 16 Apr 2009 00:32:11 +0000

This is good news. Thanks for the post, JNS.
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To use a metaphor that certain segments of our population can deal with: it is time for the US economy to use restrictor plates. Yes, track speeds will go down and lap times will go up, but there will be fewer killer pile-ups on the oval.
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It would be great if Pecora-2009 could help bring sanity to the markets for the next 80 years...until GHWB VIII comes along.

By: formerlyjames

formerlyjames — Wed, 15 Apr 2009 23:52:08 +0000

Not to diminish the idea of a commission, but we do know much about the financial collapse in any event. Lack of reasonable financial control of giant financial institutions, and massive greed. So let's have a commission and get the detail down on paper. Then, let's do something about it and those who caused it. Institute controls and devest the scumbags of every penny they own.