U.S. bank execs say Wall Street has reformed, though crisis scars linger
April 8 - The U.S. economy is strong and Wall Street has reformed practices that contributed to the financial crisis a decade ago, chief executives of some of the largest U.S. banks said in prepared testimony released by the House Financial Services Committee late on Monday.
Testimony from CEOs of Citigroup Inc, Goldman Sachs Group Inc, Morgan Stanley, Bank of New York Mellon , and State Street Corp also appeared. In their testimonies, the chief executives emphasized a range of regulatory measures including stress tests and so-called"living wills" adopted since 2008 that have helped bolster capital levels and improve the safety and soundness of the U.S. system, as well as other improvements to risk management and culture.
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