financial system, that is to say financial firms, regulators, rating agencies, analysts and commentators, missed the powerful combination of factors that led to this crisis and the serious possibility of a massive crisis. we all bear responsibility for not recognizing this, and i deeply regret that. i m sorry for the millions of people, average americans who have lost their homes, and i m sorry that our management team, starting with me, like so many others, could not see the unprecedented market collapse that lay before us. christine romans is part of our cnn money team. she has been monitoring today s hearing. you ve essentially been tweeting and blogging it to us. yeah. thank you for that. christine, did these guys, i meerngs d mean, did they really take a grilling today for missing so many big red flags about the collapsing economy? it s still happening.