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.
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.