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Author Topic: "Financial crisis panel to quiz Citigroup executives"  (Read 1211 times)
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WhiskeyGirl
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« on: April 06, 2010, 12:23:18 PM »

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4:00 AM Wednesday Apr 7, 2010

WASHINGTON - A panel investigating the roots of the United States financial crisis will press current and former executives of Citigroup at hearings this week about the bank's role in spreading trillions of dollars in risky mortgage debt through the banking system.

The hearings are the first by the Financial Crisis Inquiry Commission to focus on a single company. Witnesses include former Citi chief executive Chuck Prince and former chairman Robert Rubin, who was Treasury secretary during the Clinton Administration.

The panel also will hear from former Federal Reserve chairman Alan Greenspan; a former risk officer with failed sub-prime lender New Century Financial; and former executives and regulators from government-backed mortgage giant Fannie Mae.

The three days of testimony are designed to provide a firsthand accounting of decisions that inflated a mortgage bubble and triggered the crisis.

http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10636685

"We didn't know those fraud and fake borrowers wouldn't pay back the money..."

"We didn't know those fraud and fake borrowers weren't as safe as real people, living within their means..."

I wonder if this will be on CSPAN?
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