Journalisted

Hubris – is thy name Richard Fuld?

I s it just coincidence that both Lehman Brothers and Bear Stearns were led by entrenched men who lost touch with their employees, businesses and mission? Did hubris cause the collapse of these two venerable banks? As 158-year-old Lehman disintegrates, and potential buyers sniff the carcass, it is worth asking whether blame for the fall of both Lehman and Bear might be attributed, not only to a failure of risk management, but to a failure of character.