Pelosi Wall Street Probe Follows Pecora After Crash (Update1)
By Mark Pittman and Laura Litvan
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April 21 (Bloomberg) — Wall Street may be heading for the deepest investigation of its practices since a congressional panel’s probe of abuses following the 1929 stock market crash.
House Speaker Nancy Pelosi plans to push for a comprehensive inquiry, saying that three-quarters of Americans want to know what led to the bankruptcy of Lehman Brothers Holdings Inc. and the collapse of Bear Stearns Cos. and Merrill Lynch & Co. She favors one patterned after Senate Banking Committee hearings led by Ferdinand Pecora starting in 1933, according to her spokesman, Nadeam Elshami.
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And who investigates Congress?
Because, imho, “their fingerprints” are all over this mess — Dodd, Franks, Pelosi, and Reid!
Bush doesn’t escape clean, but they did block him.
The SEC, FTC, FDIC, and the Justice Department could have “blown the whistle”.
There’s enough blame to go around, but Pelosi is seeking to once again divert attention from her own troubles and that of her fellow congress critters.
Throw them all out!
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