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Fuld Says U.S. Used ‘Flawed Information’ to Deny Aid

Richard Fuld, former chief executive officer of Lehman Brothers Holdings Inc., said regulators relied on “flawed information” in denying his company aid that was extended to competitors.

“Other firms were hurt by their plummeting stock prices,” Fuld, 64, told the Financial Crisis Inquiry Commission at a hearing in Washington today. “Lehman was the only firm that was mandated by government regulators to file for bankruptcy. The government was then forced to intervene to protect those other firms and the entire financial system.”