Lehman sideshow underscores regulatory gaps

June 20, 2012

Unable to bag Dick Fuld & Co, the SEC has spent three years suing a money market fund for its exposure to the collapsed bank. But while Lehman wreaked havoc on markets, the Reserve Primary Fund made investors essentially whole. The folly is a reminder of the watchdog’s flaws.

Fuld may have a point mixed in with his Kool-Aid

September 1, 2010

Dick Fuld is still hung over from his home-brewed Kool-Aid. The former Lehman Brothers boss hasn't stopped blaming his investment bank's demise on "uncontrollable" market forces, false rumors and the lack of a government rescue. That neglects his own hubris and failure to buttress the firm. But he makes at least one fair point: U.S. regulators were damagingly inconsistent.