Bankers Admit Mistakes In Financial Crisis

by John Ydstie, NPR

Wall Street's top bankers told a panel looking into the causes of the financial crisis that they had made big mistakes, particularly on assessing and understanding the risks that they were taking. The bankers defended current pay practices, though, and called for only modest regulatory changes. The panel asked questions about a variety of topics, from the regulation of obscure derivatives to whether many firms on Wall Street were still considered "too big to fail."

Broadcast Dates

• All Things Considered, January 13, 2010