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U.S. markets recover from steep losses
WASHINGTON, Jan. 8 (UPI) -- A Congressional panel assembled to find the causes of the financial meltdown has scheduled four top U.S. bankers to give testimony next week.
JPMorgan Chase Chief Executive Officer and Chairman Jamie Dimon, Goldman Sachs CEO Lloyd Blankfein, Bank of America CEO Brian Moynihan and retired Morgan Stanley CEO and Chairman John Mack are scheduled to appear at the panel's first hearing Wednesday, The Washington Post reported Friday.
The panel has until Dec. 15 and a budget of $8 million to make a report, the Post said.
The budget is "probably less than any of the investment banks will spend dealing with this investigation," said Philip Angelides, chairman of the Financial Crisis Inquiry Commission.
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It is a whole new ball of wax in Europe these days.
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