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Full-Text Articles in Legal History
The Financial Crisis Inquiry Commission And The Politics Of Governmental Investigations, Michael A. Perino
The Financial Crisis Inquiry Commission And The Politics Of Governmental Investigations, Michael A. Perino
Faculty Publications
In May 2009, Congress passed the Fraud Enforcement and Recovery Act which created the Financial Crisis Inquiry Commission, an independent, bipartisan panel tasked to examine the causes of the current financial and economic crisis in the United States.
Franklin Roosevelt never created an independent commission to investigate Wall Street, but the Pecora hearings, the eponymous investigation of Wall Street wrongdoing run by a former New York prosecutor, captivated the country. For sixteen months in the worst depths of the Great Depression, Ferdinand Pecora paraded a series of elite financiers before the Senate Banking and Currency Committee. In one hearing after …
Ferdinand Pecora: The Hellhound Of Wall Street, Michael A. Perino
Ferdinand Pecora: The Hellhound Of Wall Street, Michael A. Perino
Faculty Publications
Few Americans today know who Ferdinand Pecora was, although he was once a media superstar, a nearly daily fixture in newspapers and radio broadcasts across the country. With the onset of our current economic woes his name has slowly begun to crop up again. In April 2009, House Speaker Nancy Pelosi called for a new "Pecora Commission" to investigate "what happened on Wall Street." The next week, the Senate invoked Pecora's name in voting to create an independent committee to investigate the financial crisis, and in January 2010 the Financial Crisis Inquiry Commission held its first hearings.
Pecora, a diminutive …