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This review is from: The Hellhound of Wall Street: How Ferdinand Pecora's Investigation of the Great Crash Forever Changed American Finance (Kindle Edition)
A famous "someone" once said, "Those who do not know history are condemned to repeat it". That is certainly true of the financial situation today.
The Hellhound of Wall Street is a very well written and penetrating look at one set of congressional hearings held in 1933, examining the role of National City Bank (now CitiBank) and its president Charles E. Mitchell, in the cause of the 1929 crash and its aftermath. It tells the tale using the story of the fantastic lawyer who did the research and asked all the right questions in order to expose what was subsequently called the "banksters" role in manipulating stocks, bonds, and the public without the least hint of moral or ethical considerations.
The echoes it sends down to today are chilling, in that it proves that the government, and the people, never seem to learn. We expect business to police its own activities to create a fair and functioning free market. Great expectations are rarely met.
When did we lose having lawyers conduct congressional hearings, and leave it up to 5 minutes of questioning each by unknowledgeable and ill prepared politicians. If the right questions aren't asked, how can we get the right answers?
I highly recommend this timely and riveting read.