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Next Financial Crisis Inquiry Commission Hearings Include Greenspan, Rubin

The Financial Crisis Inquiry Commission, the panel headed by former California State Treasurer Phil Angelides, designed to understand the origins of the financial crisis and offer recommendations for the future, has announced its next set of public hearings in Washington. Next Wednesday, Thursday and Friday, the FCIC will welcome such key people in the story of the financial sector as former Federal Reserve Chairman Alan Greenspan, and former Clinton-era Treasury Secretary Robert Rubin. John Dugan, the current Comptroller of the Currency and the subject of a recent critical New York Times article alleging his closeness to, and advocacy for, big banking interests, will also testify.

The entire series of hearings will be streamed live at the FCIC website.

Perusing the list of witnesses shows a heavy emphasis on Citigroup’s operations, particularly in the mortgage space. There’s a session on “Subprime Origination and Securitization” featuring two former and current Citi employees; a session on “Citigroup Subprime-Related Structured Products and Risk Management,” and a session on “Citigroup Senior Management” featuring former CEO Rubin and another former Citi CEO, Chuck Prince. Other topics include Fannie Mae and the Office of the Federal Housing Enterprise Oversight.

I’m wondering what the FCIC has turned up on Citi. We could find out next week.

The full schedule on the flip:

Day One – Wednesday, April 7

Session 1: The Federal Reserve
Mr. Alan Greenspan, former Chairman
Board of Governors of the Federal Reserve System

Session 2: Subprime Origination and Securitization
Mr. Richard Bitner, Managing Director of,
Author, “Confessions of a Subprime Lender: An Insider’s Tale of Greed, Fraud & Ignorance”
Mr. Richard Bowen, former Senior Vice President and Business Chief Underwriter
CitiMortgage Inc.
Ms. Patricia Lindsay, former Vice President, Corporate Risk
New Century Financial Corporation
Ms. Susan Mills, Managing Director of Mortgage Finance
Citi Markets & Banking, Global Securitized Markets

Session 3: Citigroup Subprime-Related Structured Products and Risk Management
Mr. Murray C. Barnes, former Managing Director, Independent Risk
Citigroup, Inc.
Mr. David C. Bushnell, former Chief Risk Officer
Citigroup, Inc.
Mr. Nestor Dominguez, former Co-Head, Global Collateralized Debt Obligations
Citi Markets & Banking, Global Structured Credit Products
Mr. Thomas G. Maheras, former Co-Chief Executive Officer
Citi Markets & Banking

Day Two – Thursday, April 8

Session 1: Citigroup Senior Management
Mr. Chuck Prince, former Chairman of the Board and Chief Executive Officer
Citigroup, Inc.
Mr. Robert Rubin, former Chairman of the Executive Committee of the Board of Directors
Citigroup, Inc.

Session 2: Office of the Comptroller of the Currency
Mr. John C. Dugan, Comptroller
Office of the Comptroller of the Currency
Mr. John D. Hawke Jr., former Comptroller
Office of the Comptroller of the Currency

Day Three – Friday, April 9

Session 1: Fannie Mae
Mr. Robert J. Levin, former Executive Vice President and Chief Business Officer
Fannie Mae
Mr. Daniel H. Mudd, former President and Chief Executive Officer
Fannie Mae

Session 2: Office of the Federal Housing Enterprise Oversight
Mr. Armando Falcon Jr., former Director
Office of the Federal Housing Enterprise Oversight
Mr. James Lockhart, former Director
Office of the Federal Housing Enterprise Oversight

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David Dayen

David Dayen