Thread by @sdgrumbine

I had never heard of a man named Ferdinand Pecora before I had met the likes of the legendary William K Black who is the foremost expert in bank control fraud. But Bill was adamant that we learn about Ferdinand Pecora who had apparently brought the banksters to their knees 1/x

I was then introduced to @PatrickLovell1 and his brilliant partner Eric Vaughan who reemphasized the need for a modern day Pecora hearing. m.imdb.com/name/nm1144162/

I started to dig in. These guys Eric, @PatrickLovell1 and Bill had created a docuseries called "The Con" and it broke the story of the housing collapse and the fraud that fueled it from the GFC in 2007-2009 and beyond.

Our financial system is a backstop for elite control fraud. Elite bail outs while the same wretches predate on the poor and minorities, these rich cons live off of their misery foreclosing on homes people spent their lives securing.

The Con is about every person. Regular you and I. But it centered on an elderly black woman named Addie Polk who committed suicide as her home was being taken from her. Millions of Addie Polks exist today. Many of us experienced the fall out of Countrywide and subprime mortgages.

But nothing was done. Nothing. Too many crooks. Obama and Holder did nothing. They were complicit as was Bush as was Clinton as was Reagan. The fraudsters are the same Robert Rubins and Jamie Dimons and they get away scotfree.

Back to Ferdinand Pecora, he was brought to the story during the Great Depression where banks had committed major fraud and left millions that suffer. He held hearings and brought down the big ones. He. Was fearless and he understood corruption and fraud and he routed it out.

Modern Monetary Theory demonstrates the way the system works. It exposes how the fraud is perpetrated. However, because there are nowhere near enough regulators and no where near the kind of political will to take down Wall Street at the top, it will need to be a bottom up effort

A Modern Pecorara hearing would bring about a new Era of enlightenment & give us the tools to address the things we need. This crime syndicate operates w/ our courts, elected officials & revolving door cabinet positions that allow the worst offenders a front seat In our governmnt

We need to build a grass roots movement to do exactly this.

So we have embarked upon a new series we have entitled The New Untouchables: The Pecora Files and hope to continue to expose corruption that continues.

If these crimes do not send you into rage, our work exposing this will definitely change your perspective.