French Counterpart Calls Paulson Out on Lehman

Lagarde blames treasury sec's decision for increased global turmoil
Posted Oct 8, 2008 8:34 AM CDT
French Counterpart Calls Paulson Out on Lehman
Christine Lagarde arrives at the Elysee Palace for a meeting of the country's top bankers and insurers with French President Nicolas Sarkozy in Paris, Monday, Oct. 6, 2008.   (AP Photo/Thibault Camus)

Henry Paulson's decision to let Lehman Brothers collapse was "horrendous," his French counterpart said today. Christine Lagarde told a radio interviewer that "for the equilibrium of the world financial system, this was a genuine error." Lagarde added that her government would support financial institutions threatened with bankruptcy and that the EU had to band together to prevent "another Lehman."

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