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Wednesday, January 13, 2010 4:36:01 PM
WASHINGTON (MarketWatch) -- As the White House and Congress consider a host of new regulations for Wall Street, a commission studying the financial crisis harshly criticized the heads of the nation's biggest banks Wednesday for their role in the near collapse of the economy in 2008.
"How do you go to the rating agencies and persuade them to give these subprime mortgage-related securities the highest ratings, at the same time as you have internal information that leads you to believe that in fact those securities may fail?" Phil Angelides, the chairman of the inquiry panel, asked Goldman Sachs Group Inc. /quotes/comstock/13*!gs/quotes/nls/gs (GS 169.00, -0.07, -0.04%) Chief Executive Lloyd Blankfein.
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