Archstone IPO makes Lehman look only mostly wrong
The real-estate company could be worth $9.7 bln or more. That’s in line with the Wall Street firm’s valuation of its stake before collapsing. But ex-CEO Dick Fuld has no reason to crow. Hubris, lack of capital and poor risk controls landed Lehman with assets it couldn’t handle.
This content is for Subscribers only
To access full Breakingviews.com content you must be a subscriber. Please use the following link to request a trial.