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Crisis inquiry commission set to quiz top bankers
Posted: 01.08.2010 at 6:25 AM
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WASHINGTON (AP) -- The spotlight is about to shine on the Financial Crisis Inquiry Commission that Congress created to investigate the near-collapse of the system.

Next week, the commission, largely anonymous until now, will hold its first public hearings featuring a gallery of the nation's top bank executives.

Chairman Phil Angelides a Democrat, compares the crisis to an earthquake where the only buildings to survive were right at the epicenter.

He calls it an irony that millions are unemployed or have lost their homes while Wall Street enjoys "record profits and record bonuses." He says "people want to understand why."

His vice chairman is Republican Bill Thomas, who once ran the House Ways and Means Committee.

Both men say they simply aim to explain the crisis. But both say the commission's findings could still be a resource for lawmakers, regulators and the industry.

(Copyright ©2010 by The Associated Press. All Rights Reserved.)

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