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Institute of Technology and co-author of "13 Bankers: The Wall Street Takeover and the Next Financial Meltdown."
"Is he a hapless chump or is he the guy that had the incentive to get it wrong?" Johnson said.
Prince Christian Louboutin Ankle Boots , a lawyer by training, was a protégé of Sanford "Sandy" Weill, who over the course of two decades built Citigroup into a financial supermarket. Prince could not be reached for comment.
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To some analysts and experts Christian Louboutin Ankle Boots , the FCIC hearing is nothing more than theater and an exercise in rehashing information that has already been disclosed.
"These commissions are a political exercise Christian Louboutin Ankle Boots , but they will not influence government policyjimmy choo phoenix RDSa.L," said Roy Smith, a finance professor at New York University's Stern School of Business.
The commission was supposed to be like the Pecora Commission, which held hearings starting in 1932 and found objectionable industry practices that led to the Securities Act of 1933 and the Securities Exchange Act of 1934.
But the FCIC has started late, as legislation is already winding its way through Congress. If the Democrats lose big in midterm elections in November Christian Louboutin Ankle Boots , the commission's recommendations may become even more irrelevant.
Douglas Elliott, a former JPMorgan investment banker now with the Brookings Institution think tank in Washington, said the best Prince and Rubin can hope for is to not give any more memorable quotes.
"The world blew up and the major players in financial world are all implicated to some extent. There's no way to come out of it looking good," he said.
(Reporting by Karey Wutkowski and Dan Wilchins; editing by John Wallace)
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