Paulson Defends Refusal To Bail Out Lehman

Paulson Defends Refusal To Bail Out Lehman

It was the weekend of Sept. 13, and the moment Treasury Secretary Henry M. Paulson Jr. had feared for months was finally upon him: Lehman Brothers was hurtling toward bankruptcy -- fast.

Knowing that Lehman had billions of dollars in bad investments on its books, Mr. Paulson had long urged Lehman's chief executive, Richard S. Fuld Jr., to find a solution for his firm's problems. "He was asked to aggressively look for a buyer," Mr. Paulson recalled in an interview.

Popular in the Community

Close

What's Hot