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Leadership lessons from Lehman Brothers ex-ceo

June 9th, 2015
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On the last day of May, ex-Lehman CEO Richard Fuld told an audience of investors and news media that he was not to blame for the 158-year old investment bank going bankrupt and for playing a role in the financial crisis. Mr. Fuld pointed to lax U.S. regulations and oversight that allowed irresponsible consumers to qualify for high priced mortgages they could not afford when the economy tanked as the cause.

The reporting of well-regarded financial journalists like Barry Ritholtz and David Weidner took Mr. Fuld to task and poked gaping holes in his assertions and denial of responsibility.

To me, however, the golden nuggets from Mr. Fuld’s speech were not his combative style, but the leadership and decision-making issues that contributed to the demise of Lehman Brothers and led to the financial crisis that nearly brought the world to its knees.

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