At Lehman Brothers, CEO Richard Fuld refused to admit mistakes as Lehman teetered on the brink of collapse. This example shows that:

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Richard Fuld's refusal to admit mistakes and accept responsibility shows a lack of courage, which is an essential trait for effective leadership. This example highlights the importance of leaders taking responsibility for their actions, even in difficult situations.

At Lehman Brothers, CEO Richard Fuld Refused to Admit Mistakes