Monday, December 05, 2011 – by Staff Report
Ferdinand Pecora The Man Who Busted the 'Banksters' ... The public was just beginning to get a taste for the retribution that Pecora was dishing out. In June 1933, his image appeared on the cover of Time magazine, seated at a Senate table, a cigar in his mouth. Pecora's hearings had coined a new phrase, "banksters" for the finance "gangsters" who had imperiled the nation's economy, and while the bankers and financiers complained that the theatrics of the Pecora commission would destroy confidence in the U.S. banking system, Senator Burton Wheeler of Montana said, "The best way to restore confidence in our banks is to take these crooked presidents out of the banks and treat them the same as [we] treated Al Capone." – Smithsonian
Dominant Social Theme: Get rid of the corruption! The US Fedgov needs to clean up the mess on Wall Street ...
Free-Market Analysis: Here's an idea. Let's take down Wall Street. The wars aren't working very well. Too many fingers are being pointed at government and people are plain angry. Better blame Wall Street! Or failing that, the "one percent."
We've spent a great deal of time pointing out that the current demos are controlled at the top. What's going on is NOT coincidental, in our view. First, references to Pecora. Now the article itself in Smithsonian (on a blog anyway).
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