Richard Fuld, former CEO of bankrupt Lehman, testifies before House panel probing what caused the firm’s collapse.
On Tuesday, the committee will hold a hearing on AIG (AIG, Fortune 500), the insurance giant that the government bailed out with an $85 billion credit line. On Oct. 3, AIG said it had already used $61 billion worth of the loan and was selling off parts of its business to help pay it off.
On Oct. 16, the House will hold a hearing on the regulation of hedge funds.
An Oct. 22 hearing will focus on the breakdown of credit rating agencies, and a hearing on Oct. 23 will scrutinize the role of federal regulators.
We are about to see an historic Congressional move on behalf of the American public against the financial sector’s profiteers!
I would say this is proof that everyone wants answers. I hope that the main thing that takes place is that these guys don’t get away making a half billion dollars a piece as it seems Fuld might!