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390:) participated in stock offerings at steeply discounted rates. He also revealed that National City sold off bad loans to Latin American countries by packing them into securities and selling them to unsuspecting investors, that Wiggin had shorted Chase shares during the crash, profiting from falling prices, and that Mitchell and top officers at National City had received $ 2.4 million in interest-free loans from the bank's coffers.
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274:. In 1929, Banton chose Pecora as his heir apparent, but Tammany Hall refused to nominate him, fearing that the honest Pecora might bring prosecutions against its members. Pecora left the district attorney's office for private practice, where he remained until 1933.
472:(NLG). On March 1, 1938, Pecora become NLG president, noted as a "forceful speaker." Pecora resigned from the NLG during its third annual convention in 1939 after the vote against his resolution disavowing communists failed to carry in the national vote.
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Pecora's investigation unearthed evidence of irregular practices in the financial markets that benefited the rich at the expense of ordinary investors, including exposure of Morgan's "preferred list" by which the bank's influential friends (including
417:; under Pecora's questioning, Morgan and many of his partners admitted that they had paid no income tax in 1931 and 1932; they explained their failure to pay taxes by reference to their losses in the stock market's decline.
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in New York City. Over the next twelve years, he earned a reputation in the city as an honest and talented prosecutor. Although he had little experience with Wall Street, he helped shut down more than 100
754:"Forceful speaker: A new informal photograph of Justice Ferdinand Pecora of the New York Supreme Court, who was recently elected President of the National Lawyers Guild, 3/1/38 [graphic]"
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control of the Senate. In fact, following a meeting with
Senator Fletcher in March 1933, President Roosevelt publicly gave Pecora carte blanche to go wherever his investigations might lead him.
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Ferdinand Pecora was appointed chief counsel to the U.S. Senate's
Committee on Banking and Currency in January 1933 to replace
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After Pecora closed his investigations, on July 2, 1934, President
Roosevelt appointed him a Commissioner of the newly formed
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The
Hellhound of Wall Street: How Ferdinand Pecora's Investigation of the Great Crash Forever Changed American Finance
270:
In 1922, Pecora was named chief assistant district attorney, the number-two man in the office under the newly elected
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Committee on
Banking and Currency during its investigation of Wall Street banking and stock brokerage practices.
857:
Ritchie, Donald A. (1975). "The Pecora Wall Street Expose". In
Schlesinger, Arthur M. Jr.; Bruns, Roger (eds.).
678:"PWA POWER ADVISER IS APPOINTED TO SEC; Ross, Advocate of Government Ownership of Utilities, to Succeed Pecora"
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226:. After briefly studying for the Episcopal ministry, Pecora attended St. Stephen's College (now
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Pecora and his wife, Florence Louise
Waterman, married in 1910 and had one son. He died at the
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before he was forced to leave school when his father was injured in an industrial accident.
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After securing a job as a clerk in a Wall Street law firm, Pecora eventually attended
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Originally a
Progressive Republican, he became a member of the Democratic Party and
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that launched a major reform of the
American financial system. Pecora, aided by
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Returning to the practice of law, Pecora represented such major clients as
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The Senate committee hearings that Pecora led probed the causes of the
710:"CIO Political Action Committee 1950-10-17 [sound recording]"
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On
January 21, 1935, Pecora resigned from the SEC (to be replaced by
939:
Investigating the Financial Crisis and My Passion for Borsalino Hats
519:
In 1939, Pecora wrote a book about the Senate investigations titled
445:, a position he held until 1950, when he ran unsuccessfully against
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magazine featured Pecora on the cover of its June 12, 1933, issue.
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Wall Street Under Oath: The Story of Our Modern Money Changers
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Wall Street Under Oath: The Story of Our Modern Money Changers
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Wall Street Under Oath: The Story of Our Modern Money Changers
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Ottendorfer Public Library and Stuyvesant Polyclinic Hospital
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787:"ExâJustice Ferdinand Pecora, 89, Dead (Published 1971)"
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who became famous in the 1930s as Chief Counsel to the
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Members of the U.S. Securities and Exchange Commission
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Congress Investigates: A Documented History 1792-1974
187:(January 6, 1882 â December 7, 1971) was an American
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258:in 1916. In 1918, he was appointed as an assistant
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452:On October 17, 1950, Judge Pecora and US Senator
246:and became a member of the New York bar in 1911.
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218:, the son of Louis Pecora and Rosa Messina, who
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286:by the outgoing committee chairman, Republican
1190:Franklin D. Roosevelt administration personnel
482:Warner Bros. Pictures Distributing Corporation
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468:In 1937, Pecora was a founding member of the
456:(D-NY) gave radio addresses on behalf of the
409:. With the United States in the grips of the
222:to the United States in 1886. He grew up in
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953:
665:Cover of the Time magazine, June 12, 1933.
29:
913:Dictionary of American National Biography
911:There is a brief entry for Pecora in the
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294:, following the 1932 election that swept
290:. He continued under Democratic chairman
758:Harris & Ewing Photograph Collection
737:. National Lawyers Guild. Archived from
84:July 2, 1934 â January 21, 1935
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427:U.S. Securities and Exchange Commission
1155:Italian emigrants to the United States
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712:. Library of Congress. 17 October 1950
594:"Financial Inquiry Slated to Continue"
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566:"Pecora Appointed for Stock Inquiry"
752:Harris & Ewing (1 March 1938).
622:"President Upholds Banking Inquiry"
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523:, which has been reprinted twice:
393:Spurred by these revelations, the
388:Supreme Court of the United States
72:Securities and Exchange Commission
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915:(Oxford University Press, 1999).
460:during prime (10:30-11:15 P.M.).
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926:"Where Is Our Ferdinand Pecora?"
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511:on December 7, 1971. He was 89.
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250:New York City public prosecution
1170:New York Supreme Court Justices
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407:Securities Exchange Act of 1934
333:, George Whitney (a partner in
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601:. February 26, 1933. p. 9
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573:. January 25, 1933. p. 23
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210:Ferdinand Pecora was born in
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1185:New York (state) Republicans
1180:20th-century American judges
1145:United States Senate lawyers
655:", Retrieved April 25, 2009.
488:. as respondents before the
449:for Mayor of New York City.
441:) and became a judge of the
433:New York State Supreme Court
382:, the former president, and
193:New York State Supreme Court
7:
1195:People from Nicosia, Sicily
667:Accessed November 19, 2010.
629:. March 14, 1933. p. 1
490:United States Supreme Court
360:of National City Bank (now
232:City University of New York
10:
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1175:New York (state) Democrats
1160:New York Law School alumni
934:. Retrieved on 2009-01-06.
151:December 7, 1971 (aged 89)
16:American judge (1882â1971)
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884:Perino, Michael (2010).
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1005:George B. McClellan Jr.
735:"Pecora Part walks out"
494:Theatre Enterprises v.
447:Vincent R. Impellitteri
331:New York Stock Exchange
1150:Lawyers from Manhattan
980:mayor of New York City
470:National Lawyers Guild
464:National Lawyers Guild
443:New York Supreme Court
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403:Securities Act of 1933
395:United States Congress
53:New York Supreme Court
1015:Edward Everett McCall
637:– via Proquest.
609:– via Proquest.
581:– via Proquest.
335:J.P. Morgan & Co.
296:Franklin D. Roosevelt
93:Franklin D. Roosevelt
1050:Robert F. Wagner Jr.
894:The Penguin Press HC
317:, a journalist, and
200:United States Senate
105:Position established
70:Commissioner of the
1035:Jeremiah T. Mahoney
653:Bill Moyers Journal
358:Charles E. Mitchell
354:Chase National Bank
329:, president of the
244:New York Law School
173:New York Law School
154:Manhattan, New York
1020:John Francis Hylan
1010:William Jay Gaynor
984:1898 consolidation
931:The New York Times
791:The New York Times
682:The New York Times
627:The New York Times
599:The New York Times
571:The New York Times
492:in the 1954 case,
439:James Delmage Ross
399:GlassâSteagall Act
339:investment bankers
224:Chelsea, Manhattan
117:James Delmage Ross
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1000:Edward M. Shepard
903:978-1-59420-272-8
876:978-0-8352-0814-7
819:Pecora, Ferdinand
454:Herbert H. Lehman
366:Pecora Commission
325:personalities as
284:Irving Ben Cooper
260:district attorney
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476:Private practice
415:J.P. Morgan, Jr.
411:Great Depression
350:Albert H. Wiggin
342:Thomas W. Lamont
304:Democratic Party
185:Ferdinand Pecora
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112:Succeeded by
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1140:1971 deaths
1135:1882 births
323:Wall Street
100:Preceded by
40: 1933
1129:Categories
1105:Eric Adams
1085:Mark Green
982:since the
804:2020-10-23
766:2016873097
695:2022-01-22
551:References
230:) and the
206:Early life
799:0362-4331
690:0362-4331
496:Paramount
298:into the
220:emigrated
169:Education
89:President
80:In office
65:1935â1950
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833:73163850
821:(1973).
633:March 3,
605:March 3,
577:March 3,
405:and the
362:Citibank
161:Children
1070:Ed Koch
458:CIO-PAC
429:(SEC).
212:Nicosia
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278:Senate
238:Career
216:Sicily
189:lawyer
156:, U.S.
515:Works
486:et al
196:judge
142:Italy
898:ISBN
871:ISBN
840:2020
829:LCCN
795:ISSN
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762:LCCN
718:2020
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635:2023
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148:Died
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