Ferdinand Pecora

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Ferdinand Pecora

Ferdinand Pecora was a former assistant district attorney from New York who, starting in January 1933, was chief counsel for the investigation by the Senate Banking and Currency Committee into the causes of the 1929 stock market crash. At the Congressional hearings, he grilled the most famous names in finance about their activities in the 1920s, exposing rampant stock market manipulation. The inquiry became known as the "Pecora Investigation." The Securities Act of 1933, the Glass-Steagall Act of 1933 and the Securities Exchange Act of 1934 all addressed abuses Pecora had exposed.[1]


Background

As a prosecutor in the 1920s, Pecora had shut down more than 100 “bucket shops,” which had tutored him in the shady side of Wall Street.

Education

References

  1. Where is Our Ferdinand Pecora?. The New York Times.