House Oversight Committee Grills Lehman CEO

Law360, New York (October 6, 2008, 12:00 AM EDT) -- Less than a month after Lehman Brothers Holdings Inc. filed for a historic bankruptcy, Chief Executive Officer Richard S. Fuld Jr. sat for a grilling by the House Oversight and Governmental Reform Committee Monday.

“Nobody, including me, anticipated how the problems that started in the mortgage markets would expand into our credit markets and our banking system,” Fuld told the committee. “I take full responsibility for the decisions that I made and for the actions that I took.”

The hearing was the first in a series...
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