Topic: Richard Fuld

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    LEHMAN BROTHERS - RICHARD FULD: Under Mr. Fuld’s leadership at Lehman, the company underwrote more mortgage-backed securities in 2006-07 than any other firm. The housing market crash showed Lehman's exposure to these high-risk financial instruments and the firm began to lose money. Fuld refused offers to sell, and the Treasury Department did not engineer a rescue, as it did for another investment bank. Lehman's bankruptcy in late 2008 also ended Fuld's job. Code Pink protesters hold up signs as Fuld testifies at a House Oversight and Government Reform Committee hearing in October 2008.

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