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LONDON (Reuters) – The former deputy Governor of the Bank of England said he was "astounded" the U.S. government let Lehman Brothers go under, and that the bank's collapse marked a clear moment when people lost confidence in the markets. Sir John Gieve said in an interview with Sky News he had fully expected U.S. authorities to step in this time last year to rescue the stricken investment bank, as it had done earlier with peer Bear Stearns. The Federal Reserve put up $29 billion in March 2008 to underwrite JP Morgan Chase's (JPM.N) rescue of Bear Stearns, and was...

Former Lehman boss sells mansion to wife for US$100 FALLEN Lehman Brothers chief executive Richard Fuld sold his $US13.3 million mansion to his wife for just $US100 last November, according to Florida real estate records. The 62-year old executive, who could face civil lawsuits after overseeing the storied investment bank's collapse into bankruptcy proceedings last September, transferred ownership of the 3.3 acres seaside home to Kathleen Fuld on November 10, records show. The couple had jointly bought the home for $US13.75 million in March 2004, as first reported by Cityfile.com. Mr Fuld has been blamed for Lehman's collapse on September...

Richard Fuld, the disgraced former chief executive of Lehman Brothers, sold his $13.3 million (£9.6 million) Florida mansion to his wife in November for $100, according to real estate records. Mr Fuld, who is widely blamed for the collapse of Lehman Brothers in September last year, bought the house with his wife, Kathleen, in March 2004 for $13.75 million. On November 10, the 62-year-old banker transferred the seaside mansion into Mrs Fuld's name in return for $100. Mr Fuld is expected to face civil lawsuits from shareholders furious that he allowed Lehman to fall into bankruptcy rather than be sold...

Stocks decline amid global worries credit crisis is spreading; Dow falls below 10,000 NEW YORK (AP) -- Wall Street tumbled again Monday, joining a sell-off around the world as fears grew that the financial crisis will cascade through economies globally despite bailout efforts by the U.S. and other governments. The Dow Jones industrials skidded nearly 500 points and fell below 10,000 for the first time in four years, while the credit markets remained under strain. The markets have come to the sobering realization that the Bush administration's $700 billion rescue plan won't work quickly to unfreeze the credit markets, and...

Disgraced CEO Richard Fuld, who oversaw the demise of venerable Lehman Brothers Holdings Inc that helped tip the credit crunch into a full-blown crisis, will testify at a congressional hearing next week. Rep. Henry Waxman, the Democratic chairman of the U.S. House of Representatives Committee on Oversight and Government Reform, has called Fuld and former chief executives of insurer American International Group Inc to appear at hearings into the financial excesses that led to the collapse of the companies. "Lax oversight and reckless investments on Wall Street are causing massive disruption throughout our economy," Waxman said in a statement on...