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Author : Ferdinand Pecora
Release : 1973-01-01
Genre : Stock exchanges
Kind : eBook
Book Rating : 725/5 ( reviews)
Book Synopsis Wall Street Under Oath by : Ferdinand Pecora
Download or read book Wall Street Under Oath written by Ferdinand Pecora. This book was released on 1973-01-01. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Ferdinand Pecora
Release : 1973
Genre : Securities industry
Kind : eBook
Book Rating : /5 ( reviews)
Book Synopsis Wall Street Under Oath by : Ferdinand Pecora
Download or read book Wall Street Under Oath written by Ferdinand Pecora. This book was released on 1973. Available in PDF, EPUB and Kindle. Book excerpt:
Author : F. Pecora
Release : 1973
Genre :
Kind : eBook
Book Rating : /5 ( reviews)
Book Synopsis Wall Street Under Oath : the Story Ofour Modern Money Changers by : F. Pecora
Download or read book Wall Street Under Oath : the Story Ofour Modern Money Changers written by F. Pecora. This book was released on 1973. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Ferdinand Pecora
Release : 2014-10-10
Genre : History
Kind : eBook
Book Rating : 064/5 ( reviews)
Book Synopsis Wall Street Under Oath: The Story of Our Modern Money Changers by : Ferdinand Pecora
Download or read book Wall Street Under Oath: The Story of Our Modern Money Changers written by Ferdinand Pecora. This book was released on 2014-10-10. Available in PDF, EPUB and Kindle. Book excerpt: Ferdinand Pecora investigated with ruthlessly abandon the nation’s most influential bankers and stockbrokers to determine what caused the Wall Street Crash of 1929, which in turn led to the Great Depression. Pecora, as Chief Counsel of Senate launched investigation, shined a vivid light on the shocking practices, deception, and lack of ethics that permeated Wall Street from the bottom to the highest echelons of power. Wall Street’s major players thought they were untouchable masters of their domain, but in the hot seat of the witness chair, eye-to-eye with Pecora, they were no match and fell like dominoes. The mighty J. P. Morgan was forced to admit he and many of his partners hadn’t paid any income taxes in the previous two years and his reputation was tarnished. Pecora’s expose of the practices of National City Bank (now Citibank) made banner headlines and caused the bank’s president to resign. Pecora Wall Street Under Oath in easy to understand language because he was afraid the public might get forgetful. And he was right. Federal Reserve Chairman Ben Bernanke said the 2008 “Great Recession” was actually worse than the Great Depression. Clearly, we need to stay vigilant with a refresher course from Ferdinand Pecora. First published in 1939, this classic book is as relevant today as it was then – because on Wall Street, greed is always in style.
Author : Michael Perino
Release : 2010-10-14
Genre : Business & Economics
Kind : eBook
Book Rating : 444/5 ( reviews)
Book Synopsis The Hellhound of Wall Street by : Michael Perino
Download or read book The Hellhound of Wall Street written by Michael Perino. This book was released on 2010-10-14. Available in PDF, EPUB and Kindle. Book excerpt: A gripping account of the underdog Senate lawyer who unmasked the financial wrongdoing that led to the Crash of 1929 and forever changed the relationship between Washington and Wall Street. In The Hellhound of Wall Street, Michael Perino recounts in riveting detail the 1933 hearings that put Wall Street on trial for the Great Crash. Never before in American history had so many financial titans been called to account before the public, and they had come within a few weeks of emerging unscathed. By the time Ferdinand Pecora, a Sicilian immigrant and former New York prosecutor, took over as chief counsel, the investigation had dragged on ineffectively for nearly a year and was universally written off as dead. The Hellhound of Wall Street provides a minute-by-minute account of the ten dramatic days when Pecora turned the hearings around, cross- examining the officers of National City Bank (today's Citigroup), particularly its chairman, Charles Mitchell, one of the best known bankers of his day. Mitchell strode into the hearing room in obvious disdain for the proceedings, but he left utterly disgraced. Pecora's rigorous questioning revealed that City Bank was guilty of shocking financial abuses, from selling worthless bonds to manipulating its stock price. Most offensive of all was the excessive compensation and bonuses awarded to its executives for peddling shoddy securities to the American public. Pecora became an unlikely hero to a beleaguered nation. The man whom the press called "the hellhound of Wall Street" was the son of a struggling factory worker. Precocious and determined, he became one of New York's few Italian American lawyers at a time when Italians were frequently stereotyped as anarchic criminals. The image of an immigrant lawyer challenging a blue-blooded Wall Street tycoon was just one more sign that a fundamental shift was taking place in America. By creating the sensational headlines needed to galvanize public opinion for reform, the Pecora hearings spurred Congress to take unprecedented steps to rein in the freewheeling banking industry and led directly to the New Deal's landmark economic reforms. A gripping courtroom drama with remarkable contemporary relevance, The Hellhound of Wall Street brings to life a crucial turning point in American financial history.
