The Pecora Investigation
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The Pecora Investigation
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Author : U.S. Senate
language : en
Publisher: Cosimo, Inc.
Release Date : 2010-09-01
The Pecora Investigation written by U.S. Senate and has been published by Cosimo, Inc. this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-09-01 with Political Science categories.
by the U.S. Senate Committee on Banking and CurrencyIt reads like a news report from 2009, not 1929: investment practices that favored rich insiders, collusion between Wall Street and Washington DC, the repackaging of bad loans to get them off the books of offending banks, and numerous other financial crimes the impacts of which reverberated through the world economy.Between 1932 and 1934, Ferdinand J. Pecora (1882-1971), an American lawyer, served as chief counsel to the United States Senate Committee on Banking and Currency as it interrogated those responsible for the stock market crash of 1929 and the resulting Great Depression. This is the full report on the Pecora Commission's investigations to the Senate committee, and it makes for astonishing reading today, now that the repeal of the reforms implemented as a result of Pecora's report set the stage for the Great Recession that began in 2008.This firsthand document of the economic history of the United States is required reading for anyone wishing to untangle the web of deceptive financial practices of the past and today alike.
The Hellhound Of Wall Street
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Author : Michael Perino
language : en
Publisher: Penguin
Release Date : 2010-10-14
The Hellhound Of Wall Street written by Michael Perino and has been published by Penguin this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-10-14 with Business & Economics categories.
A gripping account of the underdog Senate lawyer who unmasked the financial wrongdoing that led to the Crash of 1929 and forever changed the relationship between Washington and Wall Street. In The Hellhound of Wall Street, Michael Perino recounts in riveting detail the 1933 hearings that put Wall Street on trial for the Great Crash. Never before in American history had so many financial titans been called to account before the public, and they had come within a few weeks of emerging unscathed. By the time Ferdinand Pecora, a Sicilian immigrant and former New York prosecutor, took over as chief counsel, the investigation had dragged on ineffectively for nearly a year and was universally written off as dead. The Hellhound of Wall Street provides a minute-by-minute account of the ten dramatic days when Pecora turned the hearings around, cross- examining the officers of National City Bank (today's Citigroup), particularly its chairman, Charles Mitchell, one of the best known bankers of his day. Mitchell strode into the hearing room in obvious disdain for the proceedings, but he left utterly disgraced. Pecora's rigorous questioning revealed that City Bank was guilty of shocking financial abuses, from selling worthless bonds to manipulating its stock price. Most offensive of all was the excessive compensation and bonuses awarded to its executives for peddling shoddy securities to the American public. Pecora became an unlikely hero to a beleaguered nation. The man whom the press called "the hellhound of Wall Street" was the son of a struggling factory worker. Precocious and determined, he became one of New York's few Italian American lawyers at a time when Italians were frequently stereotyped as anarchic criminals. The image of an immigrant lawyer challenging a blue-blooded Wall Street tycoon was just one more sign that a fundamental shift was taking place in America. By creating the sensational headlines needed to galvanize public opinion for reform, the Pecora hearings spurred Congress to take unprecedented steps to rein in the freewheeling banking industry and led directly to the New Deal's landmark economic reforms. A gripping courtroom drama with remarkable contemporary relevance, The Hellhound of Wall Street brings to life a crucial turning point in American financial history.
The Pecora Investigation A Study Of The Senate Inquiry Into The Stock Exchange And Banking Practies 1932 1934
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Author : Robert Davis Best
language : en
Publisher:
Release Date : 1952
The Pecora Investigation A Study Of The Senate Inquiry Into The Stock Exchange And Banking Practies 1932 1934 written by Robert Davis Best and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1952 with Stock exchanges categories.
The Hellhound Of Wall Street
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Author : Michael A. Perino
language : en
Publisher: Penguin
Release Date : 2010
The Hellhound Of Wall Street written by Michael A. Perino and has been published by Penguin this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with Business & Economics categories.
Chronicles the 1933 Senate committee hearings into the causes of the stock market crash of 1929, describing the rigorous questioning by former New York prosecutor Ferdinand Pecora that revealed shocking financial abuses and led to the economic reforms ofthe New Deal.
Stock Exchange Practices The Final Report Of The Pecora Commission
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Author : U.S. Senate Committee on Banking and Currency
language : en
Publisher:
Release Date : 2010-01-31
Stock Exchange Practices The Final Report Of The Pecora Commission written by U.S. Senate Committee on Banking and Currency and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-01-31 with categories.
From 1932 to 1934, in the depths of the Great Depression, the United States Senate Committee on Banking and Currency investigated the activities of Wall Street, general banking practices, and the causes of the 1929 Stock Market Crash. This effort become known as the Pecora Commission, after the committee's final chief counsel and lead investigator, Ferdinand Pecora, who was a brilliant cross-examiner and investigator. Pecora's bravura performances and the commission's hearings were followed by millions in the newspapers and radio; Pecora become a national hero for his brutal and effective examinations of many prominent bankers and stockbrokers, including the head of the New York Stock Exchange, noted investment bankers, and high-profile commodities speculators, most famously J.P. Morgan, whose admission that he and his partners had not paid any income taxes in 1931 and 1932 led to massive public outcry.The Pecora Commission report describes widespread abusive and manipulative practices by banks, brokers, and financiers. Eventually its findings spurred public support of new securities regulations proposed by the Roosevelt administration, such as the Glass-Steagall Banking Act and the establishment of the SEC in 1934.Ferdinand Pecora and the Pecora Commission remain the gold standard for the conduct of a thorough and useful investigation into banking activity, and the report remains compelling reading today--fully resonant with the Wall Street activity of the past decade and our current Great Recession.
Wall Street Under Oath The Story Of Our Modern Money Changers
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Author : Ferdinand Pecora
language : en
Publisher: Graymalkin Media
Release Date : 2014-10-10
Wall Street Under Oath The Story Of Our Modern Money Changers written by Ferdinand Pecora and has been published by Graymalkin Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-10-10 with History categories.
Ferdinand Pecora investigated with ruthlessly abandon the nation’s most influential bankers and stockbrokers to determine what caused the Wall Street Crash of 1929, which in turn led to the Great Depression. Pecora, as Chief Counsel of Senate launched investigation, shined a vivid light on the shocking practices, deception, and lack of ethics that permeated Wall Street from the bottom to the highest echelons of power. Wall Street’s major players thought they were untouchable masters of their domain, but in the hot seat of the witness chair, eye-to-eye with Pecora, they were no match and fell like dominoes. The mighty J. P. Morgan was forced to admit he and many of his partners hadn’t paid any income taxes in the previous two years and his reputation was tarnished. Pecora’s expose of the practices of National City Bank (now Citibank) made banner headlines and caused the bank’s president to resign. Pecora Wall Street Under Oath in easy to understand language because he was afraid the public might get forgetful. And he was right. Federal Reserve Chairman Ben Bernanke said the 2008 “Great Recession” was actually worse than the Great Depression. Clearly, we need to stay vigilant with a refresher course from Ferdinand Pecora. First published in 1939, this classic book is as relevant today as it was then – because on Wall Street, greed is always in style.
Newspaper Clippings About The Appearance Of J P Morgan Co Before The Senate Bank Committee
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Author :
language : en
Publisher:
Release Date : 1933
Newspaper Clippings About The Appearance Of J P Morgan Co Before The Senate Bank Committee written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1933 with categories.
Clippings sent to the Morgan library by clippings services related to testimony in the so-called Pecora investigation, named for Ferdinand Pecora, litigator for the hearings.
Taming The Megabanks
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Author : Arthur E. Wilmarth Jr
language : en
Publisher: Oxford University Press, USA
Release Date : 2020
Taming The Megabanks written by Arthur E. Wilmarth Jr and has been published by Oxford University Press, USA this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020 with Banking law categories.
Banks were allowed to enter securities markets and become universal banks during two periods in the past century - the 1920s and the late 1990s. Both times the ensuing unsustainable booms led to destructive busts - the Great Depression of the early 1930s and the Global Financial Crisis of2007-09. Both times, universal banks made high-risk loans and packaged them into securities that were sold as safe investments to poorly-informed investors. Both times, governments were forced to arrange costly bailouts.Congress passed the Glass-Steagall Act of 1933 in response to the Great Depression. The Act broke up universal banks and established a decentralized financial system composed of three separate and independent sectors: banking, securities, and insurance. That system was stable and successful for overfour decades until the big-bank lobby persuaded regulators to open loopholes in Glass-Steagall during the 1980s and convinced Congress to repeal it in 1999.In Taming the Megabanks, Arthur Wilmarth, Jr. argues that we must separate banks from securities markets again to avoid another devastating financial crisis and ensure that our financial system serves Main Street business firms and consumers instead of Wall Street bankers and speculators. Wilmarth'scomprehensive and detailed analysis of the roles played by universal banks in the two worst financial catastrophes of the past century demonstrates that a new Glass-Steagall Act would make our financial system much more stable and less likely to produce boom-and-bust cycles. And giant universalbanks would no longer dominate our financial system or receive enormous subsidies.Congress did not adopt a new Glass-Steagall Act after the Global Financial Crisis. Instead, Congress passed the Dodd-Frank Act. Dodd-Frank's highly technical reforms tried to make banks safer but left the dangerous universal banking system in place. Universal banks continue to pose unacceptablerisks to financial stability and economic and social welfare. They exert far too much influence over our political and regulatory systems because of their immense size and their undeniable "too-big-to-fail" status.Taming the Megabanks forcefully makes the case for a a new Glass-Steagall Act to break up universal banks. A more decentralized and competitive system of independent banks and securities firms would not only provide better service to Main Street businesses and ordinary consumers but also bringstability to a volatile financial system.
Factories Of The Future
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Author : Tullio Tolio
language : en
Publisher: Springer
Release Date : 2019-02-14
Factories Of The Future written by Tullio Tolio and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-02-14 with Technology & Engineering categories.
This book is open access under a CC BY 4.0 license.This book presents results relevant in the manufacturing research field, that are mainly aimed at closing the gap between the academic investigation and the industrial application, in collaboration with manufacturing companies. Several hardware and software prototypes represent the key outcome of the scientific contributions that can be grouped into five main areas, representing different perspectives of the factory domain:1) Evolutionary and reconfigurable factories to cope with dynamic production contexts characterized by evolving demand and technologies, products and processes.2) Factories for sustainable production, asking for energy efficiency, low environmental impact products and processes, new de-production logics, sustainable logistics.3) Factories for the People who need new kinds of interactions between production processes, machines, and human beings to offer a more comfortable and stimulating working environment.4) Factories for customized products that will be more and more tailored to the final user’s needs and sold at cost-effective prices.5) High performance factories to yield the due production while minimizing the inefficiencies caused by failures, management problems, maintenance.This books is primarily targeted to academic researchers and industrial practitioners in the manufacturing domain.
Rethinking Risk Assessment
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Author : John Monahan
language : en
Publisher: Oxford University Press
Release Date : 2001-03-01
Rethinking Risk Assessment written by John Monahan and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001-03-01 with Medical categories.
The presumed link between mental disorder and violence has been the driving force behind mental health law and policy for centuries. Legislatures, courts, and the public have come to expect that mental health professionals will protect them from violent acts by persons with mental disorders. Yet for three decades research has shown that clinicians' unaided assessments of "dangerousness" are barely better than chance. Rethinking Risk Assessment: The MacArthur Study of Mental Disorder and Violence tells the story of a pioneering investigation that challenges preconceptions about the frequency and nature of violence among persons with mental disorders, and suggests an innovative approach to predicting its occurrence. The authors of this massive project -- the largest ever undertaken on the topic -- demonstrate how clinicians can use a "decision tree" to identify groups of patients at very low and very high risk for violence. This dramatic new finding, and its implications for the every day clinical practice of risk assessment and risk management, is thoroughly described in this remarkable and long-anticipated volume. Taken to heart, its message will change the way clinicians, judges, and others who must deal with persons who are mentally ill and may be violent will do their work.