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House Speaker, Nancy Pelosi wants a 1933 style investigation of Wall Street. She said that the American people are demanding to know the what and how of the Lehman, Bear Stearns and Merrill collapses. She wants to pattern her investigation after the Ferdinand Pecora hearings in 1933. The Pecora review "was probably the single most important congressional investigation in the history of our country, excepting the Watergate hearings. Congress is under public pressure to find out exactly what generated $1.3 trillion in financial industry losses, the details of the $700 billion dollar bailout and the $37 trillion destroyed in world markets. In response, John Larson, of Connecticut said: "We truly want to find out what happened to this country and level with the American people." Pelosi, in a speech on April 15 said: people need "to have a clear understanding as to how we got here and what the exposure is to the taxpayer to all this."1933StyleInvestigationOfWallStreet posts
FeedHouse Speaker Pelosi wants 1933 style investigation of Wall Street
House Speaker, Nancy Pelosi wants a 1933 style investigation of Wall Street. She said that the American people are demanding to know the what and how of the Lehman, Bear Stearns and Merrill collapses. She wants to pattern her investigation after the Ferdinand Pecora hearings in 1933. The Pecora review "was probably the single most important congressional investigation in the history of our country, excepting the Watergate hearings. Congress is under public pressure to find out exactly what generated $1.3 trillion in financial industry losses, the details of the $700 billion dollar bailout and the $37 trillion destroyed in world markets. In response, John Larson, of Connecticut said: "We truly want to find out what happened to this country and level with the American people." Pelosi, in a speech on April 15 said: people need "to have a clear understanding as to how we got here and what the exposure is to the taxpayer to all this."Continue reading House Speaker Pelosi wants 1933 style investigation of Wall Street
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