Lehman Report Shows Ex-GC’s Fight to the Bitter End
Thomas Russo's old life as GC of the collapsed Lehman Brothers is in the news again with the release of the bankruptcy examiners' report. Russo and Lehman's legal department weren't blamed for accounting chicanery, according to the report. But it shows they were involved in negotiations with other financial institutions as the bank fought for its survival, and it makes clear Russo's aversion to even preparing for Lehman's eventual bankruptcy filing, believing it would set up a "self-fulfilling prophecy."
