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Deven Sharma (R), president of Standard & Poor's and Raymond McDaniel, chairman and CEO of Moody's Corporation listen to remarks by committee members as they display a quote on a screen during the House Oversight and Government Reform Committee hearing on "Credit Rating Agencies and the Financial Crisis," on Capitol Hill in Washington October 22, 2008.
(L-R) Fitch Ratings Chief Executive Stephen Joynt, Moody's Chief Executive Raymond McDaniel and Standard & Poor's President Deven Sharma are sworn in before testifying before the House Oversight and Government Reform Committee hearing on �Credit Rating Agencies and the Financial Crisis,� on Capitol Hill in Washington October 22, 2008.
Frank Raiter (L), former executive at Standard & Poor's, and Sean Egan, managing director at Egan-Jones Ratings, confer with each other before testifying before the House Oversight and Government Reform Committee hearing on Credit Rating Agencies and the Financial Crisis, on Capitol Hill in Washington October 22, 2008.
Frank Raiter (C), former executive at Standard & Poor's, listens to testimony by Sean Egan (R), managing director at Egan-Jones Ratings, before the House Oversight and Government Reform Committee hearing on Credit Rating Agencies and the Financial Crisis, on Capitol Hill in Washington October 22, 2008.
Sean Egan (R), managing director at Egan-Jones Ratings, testifies while Ex-Moody's executive Jerome Fons (L) and former Standard & Poor's executive Frank Raiter listen, before the House Oversight and Government Reform Committee hearing on Credit Rating Agencies and the Financial Crisis, on Capitol Hill in Washington October 22, 2008.
(L-R) Jerome Fons, former executive at Moody's Corporation, Frank Raiter, former executive at Standard & Poor's and Sean Egan, managing director at Egan-Jones Ratings are sworn in before testifying before the House Oversight and Government Reform Committee hearing on Credit Rating Agencies and the Financial Crisis, on Capitol Hill in Washington October 22, 2008.
WASHINGTON - OCTOBER 22: (L-R) Stephen Joynt, president and CEO of Fitch Ratings, Raymond McDaniel, chairman and CEO of Moody's Corporatio, and Deven Sharma, president of Standard & Poor's, are sworn in during a hearing before the House Oversight and Government Reform Committee on Capitol Hill October 22, 2008 in Washington, DC. The hearing was focused on credit rating agencies and the financial crisis.
WASHINGTON - OCTOBER 22: (L-R) Former executive of Moody's Corporation Jerome Fons, Egan-Jones Ratings Managing Director Sean Egan, and former executive of Standard & Poor's Frank Raiter listen during a hearing before the House Oversight and Government Reform Committee on Capitol Hill October 22, 2008 in Washington, DC. The hearing was focused on credit rating agencies and the financial crisis.
WASHINGTON - OCTOBER 22: (L-R) Former executive of Moody's Corporation Jerome Fons, former executive of Standard & Poor's Frank Raiter, Egan-Jones Ratings Managing Director Sean Egan are sworn in during a hearing before the House Oversight and Government Reform Committee on Capitol Hill October 22, 2008 in Washington, DC. The hearing was focused on credit rating agencies and the financial crisis.
A trader reacts on the floor of the New York Stock Exchange October 15, 2008 in New York City at the closing bell. Wall Street stocks plunged on heightened recession fears Wednesday for the US and global economies, as panic returned to global markets. The Dow Jones Industrial Average slid 733.08 points (7.87 percent) to 8,577.91 and the broad Standard & Poor's index plunged 90.18 points (9.04 percent) to 907.83 just after the closing bell.
A trader reacts on the floor of the New York Stock Exchange October 15, 2008 in New York City at the closing bell. Wall Street stocks plunged on heightened recession fears Wednesday for the US and global economies, as panic returned to global markets. The Dow Jones Industrial Average slid 733.08 points (7.87 percent) to 8,577.91 and the broad Standard & Poor's index plunged 90.18 points (9.04 percent) to 907.83 just after the closing bell.
A trader reacts on the floor of the New York Stock Exchange October 15, 2008 in New York City at the closing bell. Wall Street stocks plunged on heightened recession fears Wednesday for the US and global economies, as panic returned to global markets. The Dow Jones Industrial Average slid 733.08 points (7.87 percent) to 8,577.91 and the broad Standard & Poor's index plunged 90.18 points (9.04 percent) to 907.83 just after the closing bell.
A trader reacts on the floor of the New York Stock Exchange October 15, 2008 in New York City at the closing bell. The Dow Jones Industrial Average slid 733.08 points (7.87 percent) to 8,577.91 and the broad Standard & Poor's index plunged 90.18 points (9.04 percent) to 907.83 just after the closing bell. Wall Street stocks plunged on heightened recession fears Wednesday for the US and global economies, as panic returned to global markets.