US lawmakers have learned that the now-bankrupt investment bank Lehman Brothers had arranged millions in bonuses for fired executives as it pleaded for a federal lifeline.
In the first in a series of congressional hearings on the roots of the financial meltdown, Lehman chief executive, Richard Fuld, sat before the House Oversight and Government Reform Committee on Monday, as Heads roll at German KfW bank ...
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Iraq banned from Beijing Olympics ... the panel combed through his pay history, management practices and financial strategies. Figures provided by Lehman Brothers showed Fuld received some 52 million dollars from the bank in 2000. By 2006 that had ballooned to more than 106 million dollars. Fuld opened his testimony declaring to take full responsibility for his decisions, but he conceded no errors or misjudgments in the chaotic period that led to the firm's bankruptcy.
(Deutsche Welle)
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