Wall Street bankers apologize at crisis inquiry hearing
The Financial Crisis Inquiry Commission grilled top bankers led by Lloyd Blankfein over risky mortgage backed securities and pay after banks received over 100 billion in taxpayer aid. They defended risk management while pledging reforms to curb excessive risk taking and compensation. Leaders like Moynihan Dimon and Mack acknowledged errors, pledged responsible pay, and noted reforms and future adjustments in compensation practices.
MENTIONED IN THIS ARTICLE
Washington
Special Commission
Wall Street
Financial Crisis Inquiry Commission
Commission
Phil Angelides
Lloyd Blankfein
Goldman Sachs
Angelides
Blankfein
House Financial Services Committee
Barney Frank
Dmass
House
Bill Nelson
D-Fla
Barack Obama
Brian Moynihan
Bank of America
Moynihan
Jamie Dimon
Jpmorgan Chase & Co
Dimon
John Mack
Morgan Stanley
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