Former NY Fed chief to author report on crunch

Gerry Corrigan, a former head of the New York Federal Reserve now a managing director at Goldman Sachs, an investment bank, is to lead a study on the current turmoil.

Corrigan, along with Douglas Flint, the group finance director at HSBC, a bank, is to chair a committee that will examine the causes of the crisis and outline guidelines for banks to adopt to prevent its repetition.

The committee, comprised of the two co-chairs and 14 members from Wall Street's banks and law firms, will work und