February 10th 2009 | Sky News
Four of Britain’s top bankers have apologised to a committee of MPs for the distress caused by the financial crisis. But they did not accept responsibility for the credit crunch. Joey Jones watched their evidence to the Treasury Select Committee.
Anthony says:
Yesterday it was the turn of former UK bank bosses to appear beofre the Treasury Select Committee. Today US bank bosses will be appearing before a select committee of Congress. Talk about parallel universes!
U.S. bank chiefs face grilling in Congress over bailout funds
![11tarp550 Executives from the financial institutions who received TARP funds testifying at a hearing on Capitol Hill on Wednesday. (Doug Mills/The New York Times)](https://suzieqq.wordpress.com/wp-content/uploads/2009/02/11tarp550.jpg?w=500&h=290)
Executives from the financial institutions who received TARP funds testifying at a hearing on Capitol Hill on Wednesday. (Doug Mills/The New York Times)
Louise Story | International Herald tribune | February 11, 2009
WASHINGTON: Eight of the top bankers in the United States faced off against skeptical lawmakers in Congress on Wednesday who questioned their use of tens of billions of dollars of taxpayer money and pointed out the growing public anger at the banks in the bailout.
“When you took taxpayer money, you moved into a fishbowl,” said Representative Paul Kanjorski, Democrat of Pennsylvania. “Now, everyone is rightly watching your every move from every side.”
The eight banks collectively received $125 billion in bailout money in exchange for shares in their companies, and two of them – Citigroup and Bank of America – were given tens of billions of dollars more because of their financial problems.
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