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Ex-Lehman Boss Has 'No Regrets' Over Collapse

Ex-Lehman Boss Has 'No Regrets' Over Collapse

The former head of Lehman Brothers has insisted it was "not a bankrupt company" at the time of its collapse in 2008.

In one of his first public appearances since the firm's demise - where it filed for the largest bankruptcy in US history - Dick Fuld claimed that the US Federal Reserve could have saved Lehman Brothers.

The 69-year-old said the bank was "mandated into bankruptcy", and went on to blame the 2008 global financial crisis on a "perfect storm" of factors - including rising unemployment and higher interest rates, which made mortgages unaffordable for many homeowners.

Mr Fuld also defended his decision-making in the run up to the financial crisis, adding: "Hindsight is 20-20. There is no 'if this' or 'woulda, coulda, shoulda'. You make a decision with the best information you think you have."

However, the financier admitted that "not a day goes by when I don't think about Lehman Brothers," adding: "I'd love to tell you I'm over it, it's behind me - it doesn't happen."

Mr Fuld, who now runs a small merchant banking firm, also claimed that rising levels of income inequality were harming "the belly of America".

At an investment conference, he said his other economic concerns included the rise of Islamic State, slowing growth in China, and the aggressive leadership style of Vladimir Putin.

He added that "taken together, they're fraying the fabric of our system".