Conspiracy Against Lehman Brothers?

Letting Lehman Brothers collapse was a huge mistake, according to many people who worked on Wall Street during the economic crisis of 2008. They think it was a conspiracy between Hank Paulson, Geithner, Bernanke and the chiefs at Bank of America and JP Morgan.

But this isn’t really true. It wasn’t a conspiracy to let Lehman Brothers go bankrupt. It was actually a little more personal than that. It was simply a question of two men not really liking each other. Hank Paulson and Dick Fuld had not been friends for a long time. That “huge brand” dinner, April ’08 marked the beginning of the end for Lehman Brothers. Paulson wouldn’t save Dick Fuld. No. He thought Dick should hit a bid and stay out of the Fed window.

But Fuld didn’t. The rest is history, and it’s all in my new book. Every last detail.


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