Going After the Banksters, Then and Now

Politics / Market Regulation
Apr 07, 2010 - 08:09 AM

By: Danny_Schechter

A Tale of Then and Now, FDR vs Obama: A Story of Shame, Co-optaton, Partisan Bickering and Industry Lobbying To Undermine Financial Reform

2009, The Intent: Speaker Nancy Pelosi: “What I want to initiate is the equivalent of what happened in the 30's. They had something that was called the Pecora Commission. This was the commission that was formed when Franklin Roosevelt took office and they investigated what happened with the markets... We need to know. Some people can tell you one piece of it. Others can tell you another piece of it. But really it's very hard – do you understand it? -- for the American people and the rest of us as we try to make policy as we go forward to see the ramifications of any of the changes we're being asked to make.â€