| Author | Message | ||
     Cocanada Moderator Username: Cocanada Post Number: 25853 Registered: 01-2008 Rating: N/A |
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| Ashton Side Hero Username: Ashton Post Number: 6165 Registered: 05-2008 Posted From: 66.90.104.94 Rating: N/A |
http://www.bloomberg.com/news/2010-09-01/fuld-says-u-s-used- flawed-information-to-deny-help-to-lehman-brothers.html Richard Fuld, former chief executive officer of Lehman Brothers Holdings Inc., said regulators relied on âflawed informationâ in denying his company aid that was extended to competitors. | ||
| Ashton Side Hero Username: Ashton Post Number: 6164 Registered: 05-2008 Posted From: 66.90.104.94 Rating: N/A |
CSPAN2 Former Lehman Brothers chairman and CEO Dick Fuld is testifying before the Financial Crisis Inquiry Commission (FCIC) panel. In his prepared remarks, Fuld places the blame for the companyâs bankruptcy on government regulators, saying they were not given the same aid that was âgiven to each of its competitors and other nonfinancial firms." Fuld went on to say that the same regulators relied on âflawed informationâ when assessing Lehman's financial state, which he claims ultimately led the firm's "forced" bankruptcy. Earlier, former Wachovia executive Robert Steel said he was ordered by the Federal Deposit Insurance Corporation (FDIC) in 2008 to sell his company to avoid a banking system collapse. |
