U.S. officials appeared to have made a policy decision not to bail out Lehman Brothers, the head of a panel investigating the financial crisis said Wednesday, challenging the view of regulators that they had no legal authority to help. The comments lent support to former Lehman Chairman Richard Fuld’s contention that the Federal Reserve and Treasury could have done more to prevent his firm’s 2008 bankruptcy, which hastened the worst global recession since World War Two. “It seems to me that over a period of months what ends up being made is a conscious policy decision not to rescue the entity,” said Phil Angelides, chairman of the Financial Crisis Inquiry Commission.
Crisis panel chair: Politics may have doomed Lehman
Most Popular Articles
Latest Articles
HUD walks back some proposed changes to HECM for Purchase program
Certain changes announced for the H4P program last year will not be implemented after public comments raised concerns, HUD and FHA said.
-
Key housing markets are starting to buck national trends: Redfin
-
Median payment on purchase mortgage applications rises to $2,201: MBA
-
HUD, USDA reach accord on energy-efficiency standard for new construction
-
U.S. mortgage delinquency rates remain near historic lows: CoreLogic
-
HomeServices settles commission lawsuits for $250M