The Hellhound Of Wall Street Chapter Summary

The Hellhound of Wall Street is a book about the Senate Investigator Fedinand Pecora, a immigrant who helped cross exam and prosecute the National City bank bankers who destroyed the economy in the Great Depression. It is a fascinating look at what the government can do when it wants to fight corruption on Wall Street. It was written by Michael Perino and published by Penguin Group in London, 2012.
The story begins at start of the Great Depression. Ferdinand Pecora was a Sicilian immigrant who was appointed Chief Counsel to the U.S. Senate's Committee on Banking and Currency in January 1933, in the final months of the Herbert Hoover presidency and continued following the 1932 election that swept FDR into the U.S. presidency and gave the Democratic control of the Senate.
The Senate committee hearings that Pecora led probed the causes of the Wall Street Crash of 1929 and helped launched a major reform of the American financial system. Pecora personally did many of the interrogations during the hearings, including such Wall Street personalities as Richard Whitney, president of the New York Stock Exchange, George Whitney who was a partner in J.P. Morgan & Co. and many prominent investment bankers from Chase National Bank, and Charles
Roberts, a justice of Supreme Court of the United States participated in stock offerings at ridiculously discounted rates. It was also revealed that National City sold off bad loans to Latin American countries by packing them into securities and selling them to unsuspecting investors, profiting from falling prices, and that Mitchell and top officers at National City had received $2.4 million in interest-free loans from the bank’s