Three top Wall Street figures at the centre of the mortgage crisis yesterday defended their compensation packages at a hearing in Congress.

Facing a barrage of criticism from lawmakers on the House oversight and government committee were Angelo Mozilo, chief executive of Countrywide, the embattled mortgage lender; Stan O'Neal, the former chief executive of Merrill Lynch; and Chuck Prince, former chief executive of Citigroup. They claimed their pay was received fairly and in line with investors' interests.