Financial-crisis panel questions former Citi execs Prince, Rubin

The Financial Crisis Inquiry Commission questioned Charles O. "Chuck" Prince and Robert Rubin, former executives at Citigroup, on their roles in the mortgage meltdown. Prince and Rubin defended their efforts but said they weren't aware of Citigroup's exposure to mortgage-related securities and the risks involved. Prince said the financial crisis was a combination of event and decisions, including patchwork regulation of subprime mortgages, growth of the securitization market, government policy that encouraged homeownership and a policy of low interest rates for a prolonged period.

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