leaders of the U.S. financial regulators have failed in their duties and failed to prevent the financial collapse of 2008, which led eventually to the economic crisis. Such recognition heard on Thursday at a meeting of a special commission to investigate the causes of the acute financial crisis in the country, set up by the U.S. Congress. It was composed of 10 independent experts, ITAR-TASS.

“discipline of the market was unable to prevent the excesses of the past few years. did not work and the regulatory system” - acknowledged at the hearings director of the Federal Deposit Insurance Corporation Sheila Bair. The crisis was the culmination of a decades-long process, which adversely affected economic activity, “she said.

“program control over the investment banks performed poorly,” - said the head of the Federal Commission on Securities and Exchange Commission, Mary Shapiro. Speakers acknowledged the need to introduce more stringent measures of federal regulation of banks.

day before the Commission to hear the leaders of the largest banks and investment houses and their explanation as to why has been made possible such a deep crisis, the worst since the Great Depression 20 years of the last century. Under a hail of unpleasant questions were heads of Goldman Sachs, Lloyd Blenkfeyn, Bank of America - Brian Moynihan, JP Morgan Chase - Jamie Dimon and Morgan Stanley head John Mack. Bankers agreed that, lulled by the enormous profits they have lost their vigilance and were not able to recognize the alarming signals sent by the market. However, they did not answer the question why banks are in crisis continued to pay huge bonuses to its managers, and shied away from detailed explanations of their actions.

head of the commission Andzhelides Phil said he would seek to give testimony as a former head of the U.S. Federal Reserve Chairman Alan Greenspan, its current director, Ben Bernanke, as well as former head of the Securities and Exchange Commission Christopher Cox.