Word: fuld
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...have a gun; that's good.' RICHARD FULD, former Lehman Brothers CEO, to a reporter who tracked down Fuld at his Ketchum, Idaho, home...
...Dick Fuld was warned. Years before Lehman Brothers tumbled into bankruptcy, roiling markets and setting off a string of massive bailouts, underlings informed the investment bank's CEO that Lehman should get out of real estate before the credit bubble burst. Fuld ignored them. So while the bank's chief loaded up on overpriced property from the 31st floor of Lehman's New York City headquarters, his bond traders were downstairs shorting shares of mortgage brokers. Lawrence G. McDonald was one of those traders, and in his rendering of Lehman's demise--nimbly told with novelist Patrick Robinson--the bond...
...Dick Fuld, the stubby ring-fingered, ex-CEO who ran Lehman Brothers into the ground, suffered a black-eye, and then blamed everyone but himself...
...Black is reinforcing what the smart money already thinks about the big money center banks. Their CEOs are talking about profits and paying back TARP money the same way that they were calling an end to banking write-offs a year ago. Former Lehman CEO Fuld said last April that the worst of the writedowns was probably over and Morgan Stanley (MS) chief John Mack said that the financial crisis was in the "eighth inning or top of the ninth." (See pictures of baseball...
...responsibility seems like a sucker's game. Retailers report that gun sales are up, because the Democrats are back and crime is expected to rise and civilization as we know it to break down. Someone somewhere is stirring the tar and plucking the feathers for Lehman's Richard Fuld and Merrill's Stan O'Neal and of course Bernie Madoff of the $50 billion swindle, because absent any effective sanction, we're all vigilantes...