THE PECORA HEARINGS

This case focuses on a much heralded (and widely covered) Congressional investigation into the banking sector that took place in the depths of the Great Depression, amid intense public suspicion and anger toward leading financial institutions. It covers the first two years of Franklin Delano Roosevelt’s presidency, including passage of the Glass-Steagall Banking Act in 1933, and culminates in a decision of whether to adopt the National Securities Exchange Act in 1934. At its heart is the role Congressional hearings play in oversight and the delicate balance required, amid competing interests, for these hearings to be effective.