While U.S. financial markets have made progress in making themselves less vulnerable to damage following the terrorist attacks of September 2001, more work is still needed, according to a U.S. General Accounting Office report released today in Washington. The 119-page report, titled “Potential Terrorist Attacks: Additional Actions Needed to Better Prepare Critical Financial Market Participants” (download PDF), was issued ahead of a hearing this afternoon on Capitol Hill before the House Financial Services Capital Markets Subcommittee. The committee, chaired by Rep. Richard H. Baker (R-La.), was expected to review the effects of the Sept. 11 terrorist attacks on the nation’s financial institutions and markets and help find ways to make additional security improvements. Full Story
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