Congress shocked as Lehman collapse details emerge

US Congress has heard that Lehman Brothers, days away from becoming the largest bankruptcy in US history, was pleading for a US rescue on one hand while steering millions in dollars to departing executives on the other.

The first hearing into what caused US financial markets to collapse last month, precipitating a $700bn (€518bn) bailout, opened with finger-pointing and glimpses into internal company documents from Lehman’s chaotic last hours.