Word: pecora
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...financial Dr. Jekyll and Mr. Hyde; we want to kill the jackal but save the hide." When the House passed (280-to-84) the bill and sent it to the Senate, everyone knew that the final draft, with promised revisions, would ultimately be written in conference. Only Ferdinand Pecora, Senate Banking & Currency Committee counsel, pretended to believe that the opponents of stockmarket regulation still had a chance of working their will against the overwhelming sentiment of Congress and country. Therefore, as if to wither them with one last blast and put the control bill over the Congressional hump, he flung...
...investigation. With this investigation promising to be a whitewash and his own inquiry sidetracked, the Governor grew indignant. His attorney general curtly refused to serve as inquisitor for a State Senate committee whose powers were narrowly circumscribed by the Thayer resolution. In desperation the State Senate wired Ferdinand Pecora. The counsel to the U. S. Senate Banking & Currency Committee was too busy...
...findings which already fill 50 fat volumes with a total of 25,000 pages. But heartened by the reception accorded its discovery of the Thayer letters, the F. T. C. last week let it be known that it would continue through the summer. Taking a tip from Ferdinand Pecora, it darkly hinted at some "especially" exciting revelation for the final...
...Senate Committee last week, the aging attorney criticized many provisions as deflationary and indiscriminate, found numerous glaring omissions. Roundly he denounced a fixed formula for margin requirements, urged instead discretionary power in the hands of the central credit body, the Federal Reserve Board. The Senators and their counsel, Ferdinand Pecora, were impressed...
Neither Mr. Untermyer nor Mr. Pecora had reckoned on Senator Carter Glass, who was loth to see his ward, the Federal Reserve Board, in the role of margin clerk to the nation. Few days later the peppery little Virginia Senator marched into the Banking & Currency Committee, whose headlined sessions he is usually too busy to attend, and jammed through an amendment creating a separate stock exchange commission to administer the whole bill- just what President Whitney has been demanding. A thumping victory for the bill's opponents. Senator Glass's revolt cleared the way for thoroughgoing revision...