finacial crisis

The former CEO of Lehman Brothers, Richard Fuld, blames the firm's collapse on hedge funds and short sellers that bet on declines in Lehman's stock price. That explanation may be satisfying for Fuld, but there's one problem -- it's probably not true.

During a widely anticipated speech today in New York City, President Barack Obama is bearing down on Wall Street. He's pressing for quick action on financial reform that could forever change the way big banks do business.