Banking leaders face the hot seat in Congress Associated Press

Published: Wednesday February 11, 2009





Print This Email This Banking leaders who benefited from a federal bailout are bringing a message of accommodation and gratitude to Congress, hoping for a better reception than the one given Treasury Secretary Timothy Geithner.



The eight chief executives nevertheless will likely hear plenty of skepticism Wednesday morning when they take seats at a witness table in the Rayburn House Office Building. It will be the first such examination by lawmakers since they passed the bailout bill last year. The CEOS will be quizzed aggressively on how they have used more than $160 billion in taxpayers' money.



In prepared testimony, the banking industry leaders applauded the program for making more loans available and promised to pay their share of the money back to the Treasury over time. Anticipating confrontations over their own compensation, several asserted that none of the government's money went to bonuses or dividends.



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