J. Miller and Company Blog

January 6, 2009

Who is Ferdinand Pecora?

If  you’re half as interested as I am in how we got into our current economic mess you’ll want to read the New York Times Op-Ed piece of today’s date entitled “Where is our Ferdinand Pecora?”.

“Under Pecora’s expert and often withering questioning, the Senate committee unearthed a secret financial history of the 1920s, demystifying the assorted frauds, scams and abuses that culminated in the 1929 crash.”

The more I read, the more similarities I found, including this paragraph:

“Bankers had been demigods in the 1920s, their doings followed avidly, their market commentary quoted with reverence.  They had inhabited a clubby world of chauffeured limousines and wood-paneled rooms, insulated from ordinary Americans.”

Makes you want to read more, right?

http://www.nytimes.com/2009/01/06/opinion/06chernow.html?_r=1&scp=1&sq=January%206,%202009%20Ferdinand%20Pecora&st=cse

Economics and politics , ,