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Ex-Lehman boss defends record

THE former chief of Lehman Brothers Dick Fuld will today tell the US financial services committee that details about the bank’s collapse were distorted by a court appointed adviser.

The hearing on the spectacular demise of the bank will also hear from Ben Bernanke, chairman of the Federal Reserve, Mary Schapiro, chairman of the SEC, and Anton Valukas, the court-appointed examiner.

Valukas slammed Lehman last month in a report in which he claimed the bank had breached its risk limits and artificially inflated its balance sheet.