JPMorgan Chase CEO Jamie Dimon’s hearings before Congress last month were strikingly similar — in circumstances if hardly in results — to the 1930s Senate Banking Committee hearings known as the Pecora Commission. Headed by Sicilian immigrant Ferdinand Pecora, the investigation into the causes of the Wall Street crash of 1929 resulted in, among other regulatory checks, the Glass-Steagall Act of 1933 and the founding of the Securities and Exchange Commission.
In this 2009 Moyers Moment from Bill Moyers Journal, Bill talks to Pecora’s biographer, Michael Perino, about the son of a shoemaker who overcame stereotypes to take on big Wall Street bankers, leaving a long-standing legacy of effective banking oversight.
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