Author Topic: US Congress probes banking crisis  (Read 1029 times)

Bindare_Dundat

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US Congress probes banking crisis
« on: October 06, 2008, 07:43:55 AM »
The US Congress is holding its first hearing into the cause of the current financial crisis.

The House Oversight and Government Reform Committee is focusing on Lehman Brothers, a giant investment bank which went bankrupt last month.

The failure set off a financial panic, which prompted a $700bn rescue package approved by Congress last week.

The hearing comes as US shares continued to slide amid a burgeoning liquidity crisis.

The Congressional hearings will continue over the next three weeks.