2 Sep 2010

Former Lehman head says bank was denied help

1:46 pm on 2 September 2010

The former head of Lehman Brothers has blamed regulators for the collapse of the Wall Street investment bank.

The firm's collapse in September 2008 is widely seen as having aggravated the global financial crisis.

Appearing before a commission examining the financial crisis, Dick Fuld says Lehman was denied the help that regulators gave to other struggling banks.

But a former Lehman trader and author of a book on the firm's demise, Larry McDonald, says Mr Fuld gives denial new meaning.

Mr McDonald says the US Securities and Exchange Commission needs to file charges against the Lehman executives responsible for the firm's collapse.