The necessary antecedent to those powerful rules was, naturally, a congressional investigation: the Pecora Commission.
Ultimately, though, Fordham went in a different direction and hired Tom Pecora away from Hofstra.
The 1929 crash seemed like much less of a mystery when Pecora was done.
As a result of the Pecora Commission, public pressure for banking reform greatly intensified.
Yet, as Pecora and his staff dug into the bank's internal records, they discovered a different reality.
Even as Pecora's findings outraged the public they fuelled a loss of confidence in the banking system.
Pecora immediately broadened the Senate investigation from short-selling to all Wall Street behaviour, starting with City Bank.
Committee Chairman Duncan Fletcher of New Jersey placed Ferdinand Pecora, the committee's chief counsel, in charge of the investigation.
That Congress's current Financial Crisis Inquiry Commission, though modelled on Pecora's, has yet to produce similar drama only reinforces the point.
Pecora brought some of the most prominent figures from Wall Street to speak with the commission and to answer difficult questions.
That reflects falling building costs, said Towers Watson risk consultant Jeremy Pecora.
Then, in early 1933, after the committee's investigator had resigned in a huff, its chairman, Peter Norbeck, hired Pecora as a replacement.
Pecora, a tough New York prosecutor, proved to be a masterful interrogator.
He credits Pecora's hearings with heavily influencing Roosevelt's thinking and even the words of his inaugural speech, yet much of this is speculation.
Perino makes it clear that Pecora goes for the throat and refuses to let go of the men most responsible for the Crash of 1929.
We need another Pecora Commission, another Fulbright Committee, another Sam Ervin to use the power of Congress to shed light on the causes of our current economic meltdown.
He makes much of the rampant prejudice that Italian-Americans like Pecora faced at the time, and of the contribution of Pecora's hearings to the New Deal's financial laws.
The portrayals of Pecora and Mitchell are fascinating and balanced.
Before Pecora's cross-examination was over, Mitchell had resigned in disgrace.
Look for a replay of the Pecora hearings of the 1930s, with Henry Waxman, John Conyers and Ed Markey sponsoring ritual hangings to further their agenda to control more of the private economy.
"When a cell therapy works, it's not going to be subtle, " says Andrew Pecora , chairman of the cancer center at New Jersey's Hackensack University Medical Center, who is participating in the trial.
This was the case with the famous Pecora Commission, the Senate Committee on Banking and Currency formed in the period between President Franklin Delano Roosevelt's election in November 1932 and his inauguration in March.
"Coming in here with no seniors, one junior and a bunch of freshmen and sophomores, I kind of knew what we were in for, " Fordham coach Tom Pecora said while also praising his team's effort.
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