Richard Fuld, former chairman and chief executive of bankrupt Lehman Brothers, ”mocked” suggestions that the bank’s top management should accept responsibility for poor performance by giving up their bonuses this year, according to a Congressional hearing.

In a session on the collapse of Lehman Brothers before the Committee on Oversight and Government Reform, Chairman Henry Waxman said the committee received thousands of pages of internal documents from Lehman and these documents portray a company in which there was "no accountability for failure."