Shouldn't he have thought about the consequences of gambling before they required a bailout? Fuld has never offered to pay back the bonus money that he raked in during the peak bubble years so why is now complaining about not being bailed out? The bankers are complete frauds and have no idea what capitalism is about. They all spent millions to lobby for unregulated markets so let them live with the end result.
Boo hoo.
Richard Fuld, former chief executive officer of Lehman Brothers Holdings Inc., said regulators relied on “flawed information” in denying his company aid that was extended to competitors.
“Other firms were hurt by their plummeting stock prices,” Fuld, 64, told the Financial Crisis Inquiry Commission at a hearing in Washington today. “Lehman was the only firm that was mandated by government regulators to file for bankruptcy. The government was then forced to intervene to protect those other firms and the entire financial system.”
