Tags: Greenspan | Crisis | Panel | citi | ceo

Greenspan, Ex-Citi CEO to Answer to Crisis Panel

Wednesday, 31 Mar 2010 03:13 PM

 

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Former Federal Reserve Chairman Alan Greenspan and ex-Citigroup  Chief Executive Chuck Prince will appear next month before a U.S. panel investigating the roots of the financial crisis that brought global markets to their knees in 2008.

The Financial Crisis Inquiry Commission, a 10-member panel appointed by Congress, will focus in on bailed-out financial supermarket Citigroup as it holds a public hearing on April 7-9.

The hearing generally will explore the role that subprime lending, securitization and mortgages giants Fannie Mae and Freddie Mac played in the crisis.

The panel will also hear from Robert Rubin, former Treasury secretary and former Citigroup director; Comptroller of the Currency John Dugan; and former Fannie Mae CEO Daniel Mudd, among others.

The FCIC is holding public hearings and meeting behind closed doors with financial industry players to piece together the causes and impact of the financial meltdown.

It is tasked with issuing a report by December 15, detailing the crisis that peaked in late 2008 after the collapse of former investment banking giant Lehman Brothers.

The report will serve as a public record of the historic event and will not likely include thorough recommendations for reform, which Congress is currently considering and hopes to have completed this year.

© 2014 Thomson/Reuters. All rights reserved.

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