Fuld: U.S. regulators Denied Lehman, but Helped Wall Street

The U.S. govt did not grant Lehman Brothers (LEHMQ) the same assistance as its competitors, knocking out the possibility of an orderly unwind of the firm and aggravating the global crisis, former Lehman Chief Executive Dick Fuld said Wednesday.

“Only Lehman was denied that expanded access. I submit, that had Lehman been granted that same access as its competitors, even as late as that Sunday evening, Lehman would have had time for at least an orderly wind down or for an acquisition which would have alleviated the crisis that ensued,” Fuld will tell a U.S. commission investigating the causes of the financial crisis.  – Reuters

Be the first to comment

Leave a Reply

Your email address will not be published.