Economy Sep 14

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A Look Back at the Collapse of Lehman Brothers

Lehman Brothers survived the Civil War, the Great Depression, two World Wars, and the attacks of 9/11, yet under the leadership of Richard Fuld the investment bank went from storied Wall Street firm to catalyst of last year's economic crisis.

Lawmakers grilled former Treasury Secretary Henry Paulson Thursday over the government's role in Bank of America's merger with Merrill Lynch, saying authorities withheld information about losses and intimidated bank executives into sealing the deal.