ECB's Bini Smaghi pans US for Lehman collapse

A top European Central Bank (ECB) official has condemned Washington's decision to let Lehman Brothers, a now-defunct investment bank, go bust last month.

"Looking back at the events of last month, it seems clear that the failure of Lehman Brothers could have and should have been avoided," said Lorenzo Bini Smaghi, a member of the ECB's executive board. "This is not just a decision made in light of what happened afterwards, but also what should have been decided before the collapse."

It was, Bini

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