Nominate Elizabeth Warren -- Provide The Pecora Hearings We Need
baselinescenario.com — It’s time for the president to stand up to abusive financial practices facilitated by cynical and nontransparent subsidies. If nominated, Elizabeth Warren’s confirmation hearing would become a defining moment for thinking about finance in America. A public hearing on her case represents our best opportunity to experience a modern version of the Pecora Hearings of the 1930s, that laid bare the (rotten) inner workings of Wall Street. And reform would win. All the missed opportunities, botched bailouts, and kowtowing to megabanks would fade into the background. Every attempt at change must face many setbacks — and financial reform has really struggled to have any impact. But at the end of the day, if Elizabeth Warren wins, we all win.