Nout Wellink, President of the Dutch Central bank (De Nederlandse Bank - DNB) said today he can't see any reason to apologize about his role in the financial crises, as he answered questions of a Dutch parliamentary commission investigating the root causes of the financial crises. The investigation was shown life on Dutch TV.
Referring to the crisis as being "born and raised as a many-headed monster in the United States" he remarked that Dutch bank
ABN Amro had been a victim of other
financial institutions which took "irresponsibly large risks", made enormous profits and could therefore "buy up the rest of the world". ABN Amro was bought up by a consortium of foreign banks in 2007 but had to be rescued by the Dutch state when the crisis broke.
There has been much criticism of Nout Wellink's and the DNB's role in the crisis and the commission will be questioning him again on Thursday.
For the complete report: Central bank president quizzed about crisis | Radio Netherlands Worldwide
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