It has been reported that this week, the US financial crisis inquiry commission would be asking questions to Robert Rubin, the former Treasury Secretary. He is known to have played a major role in financial deregulation during Bill Clinton’s government and has kept a low profile from the time when he stepped down as a special adviser to Citigroup, in January 2009. The committee was created by Congress and provided extensive powers in May 2009. The former chief executive of Citi, as well as Alan Greenspan, former chairman of the Federal Reserve Board, Chuck Prince is also going to be questioned by the committee. The arrangement puts forward the committee is tapering the scope of its inquiry in front of a final report to Congress in December.
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This week, the average U.S. fixed rate for a 30-year mortgage jumped to 3.69%. That’s still more than a percentage point lower than the 4.85% of the year-earlier week.
Embrace Home Loans, a Rhode Island-based mortgage lender, announced this week that longtime employee Ryan “Buddy” Hardiman is being promoted to senior vice president of retail and direct sales.