2008 Financial Crisis: a “perfect storm” of events

Lehman’s Fuld, 7 Years Later, Says ‘Perfect Storm’ Caused Crisis


Richard Fuld Jr., the man at the helm of Lehman Brothers Holdings Inc. when it collapsed in 2008, said a “perfect storm” of events caused the financial crisis. Among the contributing factors Mr. Fuld listed Thursday were government officials who pushed for lower home-lending standards and homeowners who used their equity on their homes “as ATM accounts.” “It’s not just a one single thing, it’s all these things taken together,” he said.
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