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The Pecora Investigation was an 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. His exposure of abusive practices in the financial industry ...
Ferdinand Pecora was born in Nicosia, Sicily, the son of Louis Pecora and Rosa Messina, who emigrated to the United States in 1886. He grew up in Chelsea, Manhattan.After briefly studying for the Episcopal ministry, Pecora attended St. Stephen's College (now Bard College) and the City University of New York before he was forced to leave school when his father was injured in an industrial accident.
Some accounts even suggest those Glass–Steagall provisions were created in response to the Pecora Investigation. [102] National City Bank (predecessor to Citibank) was the only commercial bank examined by Ferdinand Pecora before the 1933 Banking Act became law in June 1933. [103]
A move to create an investigation was then made on February 7, 1912, when the democratic Money Trust Caucus decided to pass House Resolution 405. [2] Not long after this resolution's passage, amendments followed placing the investigation of the Money Trusts into the hands of then-chairman of the Banking and Currency Committee, Arsène Paulin ...
Sen. Carter Glass (D–Va.) and Rep. Henry B. Steagall (D–Ala.-3), the co-sponsors of the Glass–Steagall Act. The sponsors of both the Banking Act of 1933 and the Glass–Steagall Act of 1932 were southern Democrats: Senator Carter Glass of Virginia (who by 1932 had served in the House and the Senate, and as the Secretary of the Treasury); and Representative Henry B. Steagall of Alabama ...
An 11-year-old girl who was taken to a hospital in critical condition after attempting to save her 12-year-old classmate's life when he fell through the surface of an icy upstate New York lake has ...
Her practice focuses on criminal defense in state and federal courts, leveraging her extensive experience prosecuting serious violent crimes, including complex homicide cases, from accusation to ...
A suspect in connection with the killing of UnitedHealthcare CEO Brian Thompson was arrested in Pennsylvania on Monday in possession of a gun and multiple fake IDs, officials said.