Any government bailout of Lehman Bros would be complicated by the fact that Hank Paulson’s brother, Richard, works for the firm.
Which makes it all the more impressive that Hank is refusing to bail the place out.
Forbes: U.S.Treasury Secretary Henry M. Paulson Jr. has lots of friends at Lehman Bros.
The former Goldman Sachs (nyse: GS – news – people ) chief executive is close to Lehman Chairman and Chief Executive Richard Fuld. He also knows many of Lehman’s bankers from his early years hammering out merger deals.
But Paulson’s best friend at Lehman Bros. (nyse: LEH – news – people ) is probably his brother Richard Paulson, who has worked at the now-beleaguered investment bank as a fixed-income salesman for more than a decade. The two brothers, though very different, share a passion for the Chicago Cubs, say people who know them.
Reached on his mobile phone, Richard Paulson said: “I have absolutely no comment other than my brother is very professional and the only thing I have talked about with him in the last couple months is the Chicago Cubs. We are big Cubs’ fans.”
Integrity apparently runs in the family.
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