Pelosi Wall Street Probe In The Works

San Francisco Gate:

Democratic House Speaker Nancy Pelosi, saying that the American people are demanding "discipline and accountability" after the multibillion-dollar federal bailouts, promised Wednesday to create a legislative commission with broad oversight to investigate the causes of Wall Street irregularities and their full costs to taxpayers.

Pelosi, speaking to the Commonwealth Club of California, said she wants the panel to be modeled after the Pecora Commission, a bipartisan investigative body established by the U.S. Senate in 1932 to examine the causes and abuses of the Wall Street crash of 1929 and to prevent a repeat.

Read the whole story: San Francisco Gate

Comments

[Wiseup2Day]

08:28 AM on 04/22/2009

Pelosi will also be prosecuted for approving enhanced tactics in any investigation of memos by this administration..personally..I'd like to fire everyone in government and start from scratch.

[wndrwrthg]

08:46 AM on 04/17/2009

The only thing she wants investigated is how to enrich herself from shaking down wall street. Any information that is gained will be used for that purpose. Concern for constituents is the last thing on her mind.

[vippy]

08:00 AM on 04/17/2009

Coming from Pelosi - she is either worried about her re-election or she is just sand bagging.
Would be great if she was sincere and really turn up the heat on Wall Street. But I see she has not
addressed the Commodities Future Modernization Act, so this may all be just a farce!

[merger]

07:19 AM on 04/17/2009

Wooow. That 'll fix 'em. Nancy Pelosi! 00ooo!

[stell]

05:28 AM on 04/17/2009

Are you kidding? She wishes we had never found out about the bailouts.

[stell]

05:27 AM on 04/17/2009

She is a complete loser, except when it comes to getting perpetually re-elected to a mindless left wing district in San Franscisco. Does she pay all of her workers union wages?

[stell]

04:52 AM on 04/17/2009

Right. Throw some more money at it right, Nancy? Why don't you go talk to Elizabeth Warren?

[RageCage]

11:17 PM on 04/16/2009

The irregularity here is government intervention in things it knows nothing about. And that's just typical isn't it? Something's wrong with the economy! Gasp! Let's have more government probes and a larger sphere of influence on the government's behalf. That'll solve all our problems. Wink wink.

[IDIOTA]

09:47 PM on 04/16/2009

It is very important that someone with stature embark upon such a task as investigating a disaster from which we may never recover. I have been disappointed by Democratic ineffectiveness, so this is a step in the right direction. Let's see what happens because deeds trump words in this case.

[sarabono]

09:43 PM on 04/16/2009

Why doesn't she hold a one woman investigation?
I would watch that on CSPAN.
It might even turn into a hit show and then be made into a series.

[themodernleader]

09:16 PM on 04/16/2009

House Speaker Pelosi is fulfilling her obligation to her position. I am surprised that the Senate has not taken initiative in ths same direction. Such a commission must be bi-partisan with the most diatinguished and reputable members who are determined to uncover the sordid facts, where ever they may reside.

[sarabono]

10:05 PM on 04/16/2009

"....distinguished and reputable members...." Who would that be? They are all Rich, some Super Rich, Millionaires. That is why we have a 69,000 page Tax Code that is massaged so they can avoid paying there far share. That is why they have there salary for life. That is why they have the cheapest and best health care in the world. That is why they get special mortgage deals from firms like Countrywide.

Give me a break. We need term limits. Two terms for Senators (12 years) and 5 terms for Representatives (10 years). Get some regular Americans elected, a few plumbers, electricians, nurses, teachers, small business owners elected, and I bet they could straighten out our Government in a very short period of time.

[rbchilds]

10:59 PM on 04/16/2009

You aren't suggesting that we have folks with plain old common horse sense running things, surely you jest. :)

[GeorgeP922]

09:02 PM on 04/16/2009

Sweet!

I hope this ends up with Pelosi appearing from behind a door in some execs office and slapping the cuffs and dragging him down the patrol cars personally!

hehe, we can only hope because as we know, the clowns on Wall Street are America's last great gangsters.

[SoCalM]

12:36 AM on 04/17/2009

Remember what Don Corleone said: "You can steal more money with a briefcase than with a gun."

[AngelaQuattrano]

08:06 PM on 04/16/2009

All the trolls posting silly anti-Pelosi remarks will undoubtedly be shocked to find that they people who they trusted most are the ones who set out to destroy the economy. It's about time we got down to the bottom of the matter.

I personally prefer a special prosecutor, but this will work.

[Rule Of Law]

08:06 PM on 04/16/2009

Nancy Pelosi, who voted for the deregulation that has put us in this economic crisis (to be fair, along with most members of both houses!) wants to launch a probe? I guess she could start by probing her buddy Dianne Feinstein for war profiteering that earned billions from her husband's two military related companies.

Or maybe she should just begin by investigating herself and the rest of Congress for ever deregulating the financial industry in the first place.

[GeorgeP922]

09:03 PM on 04/16/2009

So she should investigate Congress for doing it's job, voting on laws?

Unless you think they can prove bribes and extortion took place for the Kyle ammendement?

Really I think we could really move past this is Bill clinton came out and appologized for deregulation, and that Obama should undo that mistake he made.

[sueinmn]

09:35 PM on 04/16/2009

She became house minority leader is 2003. Doubt she had much to do with it! It was Clinton Republicans in power and Clinton was too tied up with the Monica scandle, he had little veto clout left.

[Rule Of Law]

10:03 PM on 04/16/2009

She--and read this carefully this time--and most of both houses, voted for deregulation. Deregulation led precisely to where we are now. BOTH parties are to blame!

There were people like Brooksley Born in the Clinton admin who warned against this years before anyone else did. She was forced out by Rubin/Summers and Greenspan for suggesting that deregulation of derivatives would be a bad thing.

Clinton could have vetoed just to show some spine and make them override him, but didn't. He was a free marketeer as his support of NAFTA shows. He gave the pen he signed the repeal of Glass Steagall to Sandy Weill at Travellers as a momento of the occasion that allowed the merger of Travellers and Citi. We KNOW where that led.

Pelosi and those who voted for deregulation have fed at that trough now through election donations and a Wall Street revolving door for the last
8-10 years. Expecting her to suddenly investigate them now is naive.

[PhilipTaylor]

07:59 PM on 04/16/2009

Where is Obama/Holder on investigating Wall Street Corruption?

We need $3 Billion set aside for FBI and others to investigate all the Crime found on Wall Street, Mi1itary and Contracts, Oi1 Speculation, Health Insurance, and ...........