Chapter

Congress and the Courts Have Their Say

in Front Page Economics

Published by University of Chicago Press

Published in print March 2011 | ISBN: 9780226781983
Published online March 2013 | e-ISBN: 9780226782010 | DOI: http://dx.doi.org/10.7208/chicago/9780226782010.003.0008
Congress and the Courts Have Their Say

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This chapter explores the linguistic aftermath of Wall Street crime in 1929 and 1987 and its duration into the present. It showed that the public language that developed around the scandals following the 1929 and 1987 crashes became a kind of frozen source for history. After 1929 and 1987, the stock market crashes revealed widespread “irregularities” that seemed like crimes to onlookers. The New York Times and the Tribune offered extraordinary coverage to the Pecora hearings. The newspapers never independently elaborated the web of influence, but once it was introduced in the hearings there was no effort to depreciate the hearings or treat them as comedy. The 1929 crash was expressed as a great tragedy in a period given to excess and corruption at the highest levels. The literature on the 1987 crash was overwhelmingly a comedy held to Wall Street.

Keywords: Wall Street crime; stock market; New York Times; Tribune; Pecora hearings; 1929; 1987; comedy

Chapter.  10090 words.  Illustrated.

Subjects: History of the Americas

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