Fuld and Fed’s Baxter at odds over Lehman failure

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Dick Fuld, the former chief executive of Lehman Brothers, a failed investment bank, and Thomas Baxter, the New York Federal Reserve's general counsel, on Wednesday produced two very different accounts of the reasons behind the failure of the investment bank.

Testifying before the Financial Crisis Enquiry Commission, Fuld placed the blame for his bank's collapse squarely on the shoulders of the Fed, insisting the central bank should have provided it with access to liquidity on the night of Sunda

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