Pecora Commission investigates the 1929 crash
The US Senate Committee on Banking and Currency investigated the causes of the 1929 stock market crash and the practices of Wall Street banks, gaining public attention after Ferdinand Pecora became chief counsel in January 1933. The hearings exposed conflicts of interest, manipulative trading and reckless practices by major banks and their executives. The findings built public and political support for the Glass-Steagall Act of 1933 and the Securities Exchange Act of 1934, which created the SEC.