Lehman's bankruptcy filing is the latest symptom of how sick the financial institutions in America are and illustrates just how intertwined the global economy actually is. Financial commentators are blaming Lehman Brothers CEO Richard Fuld's hubris, with a big dose of bad luck, for the institution's fall from grace. Until June, it had never even reported a quarterly loss as a public company. In 2007, the bank's net profit had risen 5% to a record $ 4.2 billion. For years this bank had been doing roaring business in originating mortgages, repackaging them and selling them onto other investors. As the US housing market went from boom to bust the bank was too heavy with toxic housing loans to unload. The greatest blunder Fuld committed was when he missed a chance last August to sell a 25% stake in the bank for $ 4 billion to $ 6 billion to Korean Development Bank.