Word: pecora
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Dates: during 2000-2009
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...lend to the burgeoning middle class. Mitchell, who became president of the bank in 1921, built City into the first financial supermarket. When everything financial turned toxic in the early 1930s, he became the most prominent scapegoat for the disaster. He was the main target of the famous Pecora hearings in Congress, was arrested for--but not convicted of--tax evasion and resigned in disgrace. The Glass-Steagall Act of 1933 put an end to the blending of banking and securities businesses that Mitchell had championed. City lived on as a chastened, smaller bank...
...Peter J. Pecora, Senior Director of Research Services at Casey Family Programs—an organization promoting advances in child-welfare practice and policy—stressed that the frequent placement changes and lack of permanent support guarantees often faced by foster children contribute to feelings of anxiety and social instability...
...first placement should be the last placement,” said Pecora. “The average age a person leaves home is 25. People are taking longer to reach adulthood, finish school and have children. Given that backdrop, why would we expect that someone who has faced the challenges of the welfare system to be fully self-sufficient by age eighteen...