The US Congress is holding its first hearing into the cause of the current financial crisis.
The House Oversight and Government Reform Committee is focusing on Lehman Brothers, a giant investment bank which went bankrupt last month.
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The hearing comes as US shares continued to slide amid a burgeoning liquidity crisis.
As the hearing opened, committee chairman Henry Waxman said the credit freeze threatened the entire economy.
"To restore our economy to health, two steps are necessary," he said.
"First, we must identify what went wrong. Then we must enact real reform of our financial markets."
The hearings will continue over the next three weeks.
(BBC)
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