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Former CEO Blames Bad Regulations For Bank Failure
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28.05.2015
Dick Fuld, the chief executive who led Lehman Brothers to the largest corporate collapse in modern times, has defended the failed investment bank’s culture.
He insisted Lehman was a victim of wider market excesses and regulatory failings in his first public speech since the banking crash of 2008.
Fuld, who was paid $485 million in salary, bonuses and options between 2000 and 2007, also attempted to respond to criticisms that Lehman had not been good at assessing risks.
He insisted Lehman was a victim of wider market excesses and regulatory failings in his first public speech since the banking crash of 2008.
Fuld, who was paid $485 million in salary, bonuses and options between 2000 and 2007, also attempted to respond to criticisms that Lehman had not been good at assessing risks.
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