The Real Deal Miami

Congressional hearings into financial crisis begin

October 06, 2008 05:04PM

The first Congressional hearing on the financial crisis began today
with testimony about the collapse of Lehman Brothers.
Richard S. Fuld Jr., the former chief executive at Lehman, and a panel of
experts told the Congressional
committee that the investment bank approved millions of dollars worth of
bonuses for executives who were leaving the company at the same time
that the bank was asking for a federal bailout.