Hedge funds were among those to blame for the 2008 financial crisis, said the man whose firm, Lehman Brothers, was the trigger for a derivatives implosion so large that a nasty five year recession Ben Bernanke called “worse than the great depression” followed. Dick Fuld, who was immortalized in the book “A Colossal Failure of Common Sense: The Story of the Collapse of Lehaman Brothers, spoke for the “first time since the financial crisis” and laid blame in several locations. Interestingly, however, what he didn’t mention was perhaps most significant.
Government, hedge funds, borrowers all to blame for the financial crisis
The former...
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