Nancy Pelosi is now proposing a bipartisan commission to investigate the cases and abuses that have led to the current banking crisis.

It would be modeled after the Pecora Commission, which looked into the 1929 crash.

This ignores both recent, and less recent history, with the history of the Iran-Contra commission being that the Republicans would use it to obstruct any real investigation of Reagan’s arms for hostages swap, and the Pecora Commission itself, which really did not do much until the Dems took control of Congress, and unleashed their cheif counsel, Ferdinand Pecora.

The Republicans are far more venal and partisan than they were in 1987, and infinitely more so than in 1932, and the idea that they can be trusted even as spectators is a pipe dream.