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Joe Fellerman

Joe Fellerman

Principal of RRP Global, LLC (Recovery & Resolution Planning, LLC) and former FDIC Special Advisor in the Office of Complex Financial Institutions, expert on bank resolution.

Sep 14, 2026

Banking Bad

Banking Bad

Too Interconnected to Fail

Sep 14 · 41m

John Bovenzi
John BovenziHOST
1:25
Can you talk about the reasons why the Lehman bankruptcy turned out so badly?
Joe Fellerman
Joe FellermanGUEST
1:30
Lehman Brothers is the poster child for what goes wrong.
Joe Fellerman
Joe FellermanGUEST
1:35
multiple issues.
Joe Fellerman
Joe FellermanGUEST
1:36
First, the multiple entities being resolved by different resolution regimes.
Joe Fellerman
Joe FellermanGUEST
1:42
Lehman Brothers owned a bank, they owned a thrift, they owned a broker dealer, and then they had other operating entities.
Joe Fellerman
Joe FellermanGUEST
1:49
The bank and the thrift were isolated in the failure by the FDIC and the OTS and were wound down over time.
Joe Fellerman
Joe FellermanGUEST
2:00
The broker dealer was closed by the SEC and wound down over time.

14 MINS LATER

Tom Weiss
Tom WeissHOST
15:39
experience?

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