Disgraced Lehman Brothers Holdings Inc. Chief Executive Richard Fuld, who presided over the Wall Street investment bank during its collapse in September, will testify at congressional hearing on Monday.

Photo taken on Sept. 14, 2008 shows the headquarters of troubled Wall Street investment bank Lehman Brothers in New York. As the Bank of America and British bank Barclays failed to buy Lehman on Sunday, the 158-year-old US firm may face a potential bankruptcy. (Xinhua Photo)

In what would be his first public appearance since Lehman filed for bankruptcy, Fuld is expected to face tough questioning from lawmakers angry over the government’s proposed 700 billion dollar Wall Street rescue.

“Lax oversight and reckless investments on Wall Street are causing massive disruption throughout our economy,” said Henry A. Waxman, chairman of the committee in a statement on the committee’s website. “Our hearings will examine what went wrong and who should be held to account.”

Waxman has asked Lehman to provide internal documents and communications transmitted to and from the executive suites during a 180-day period leading up to Sept. 16, the day after Lehman, the 158-year-old investment bank and Wall Street fixture, filed for bankruptcy.

Excessive executive pay will be a theme at the hearing. Fuld received 22 million U.S. dollars in bonuses alone for 2007, although he is not receiving a golden parachute.

At a second hearing, on Tuesday, three former AIG CEOs — Robert B. Willumstad, Martin J. Sullivan, and Maurice R. Greenberg — are scheduled to testify.

VietNamNet/Xinhuanet