Mobilise for an Australian Pecora Commission!
The 1933-34 Pecora Commission was a critical element in showing the enraged U.S. population—who had blamed their financial losses on the wiles of the market place or bad decisions—who the real culprits of the Depression were—the Wall Street banks. The political heat that was brought to bear on leaders at all levels of government, induced many of them to support Franklin Roosevelt's banking reforms, which laid the foundation for the New Deal and economic recovery.
Similarly, today, people have no sense of who is to blame for the loss of their lifesavings, investments, or hundreds of thousands of dollars of their superannuation. We need to focus that justified rage onto the politicians who created the possibility for the looting, pyramid scams, Ponzi schemes and the collapse of companies from Centro to ABC Learning Centres, the rip-offs of Grange Securities to Storm Financial, not to mention everything else which is about to go if we don't act soon.
So we need you to do two primary things:
(1) Sign the call (Click here to download printable version) for an Australian Pecora Commission, collect as many other signatures as you can and fax it to your federal Member of Parliament (Click here for details).
(2) Mobilise everybody you know to do the same.
Finally, if you are not already a member, join CEC here. You will receive the upcoming New Citizen with a feature on the Pecora hearings, and subsequent editions over the membership period.