Dick Fuld, the former chief executive of Lehman Brothers, accused the Federal Reserve of worsening the financial crisis by letting his investment bank fail.
In the most vigorous defence yet of his actions at the helm of Lehman, Mr Fuld said in prepared testimony to the Financial Crisis Inquiry Commission on Wednesday that regulators pushed his group to file for bankruptcy and denied it the same access to Fed credit that other banks were allowed.
The FCIC, which was set up by Congress to examine the causes of the financial crisis, is examining the phenomenon of “too big to fail” institutions at this week's hearing in Washington.
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