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Updated: 8:36 AM Oct 23, 2008
Congressional Committees Look At Regulators in Meltdown
Current and former regulators will be on Capitol Hill to talk about their role in the financial meltdown. Posted: 8:36 AM Oct 23, 2008Reporter: Associated Press Email Address: news@nbc11news.com |
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Washington (AP) Current and former regulators will be on Capitol Hill to talk about their role in the financial meltdown.
Government regulators have come under sharp attack for the current crisis and some get their say this morning.
House Oversight and Government Reform Committee Chairman Henry Waxman yesterday blasted credit rating agencies for giving great ratings to securities that didn't warrant them. He says it put the entire financial system at risk.
Waxman's panel today hears from former Fed Chairman Alan Greenspan, former treasury secretary John snow and ex-sec chairman Christopher Cox.
House Republicans are urging creation of a blue-ribbon panel to delve into the economic crisis and come up with ways to prevent it from happening again.
The role of federal regulators is also the focus of a senate hearing.
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