FCIC hearing – Goldman advocates fair-value accounting
The first hearing of the Financial Crisis Inquiry Commission (FCIC) provided interesting detail about how some of Wall Street's biggest firms coped with the challenging circumstances in the financial markets from 2007 through 2009. The top executives of Goldman Sachs, JP Morgan Chase, Morgan Stanley and Bank of America all gave prepared statements and answered questions this morning in the US Congress's Ways and Means committee room.
Some of the most compelling testimony was from Lloyd Blankfein
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