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SECLaw.com (Free subscription) | yesterday
Interesting story in this month's New York Magazine - " Burning Down His House Is Lehman CEO Dick Fuld the true villain in the collapse of Wall Street, or is he being sacrificed for the sins of his peers? " The story presents a pretty sympathetic view of Dick Fuld as it traces the last month of Lehman Brothers. But more to the point, it presents a more realistic view of...
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The Huffington Post (Free subscription) | 6 hours ago
The blockbuster article in New York magazine made it clear that Dick Fuld was telling investors and creditors one thing about the health of Lehman Brothers while the company's internal books were telling executives another. So will Fuld find himself on the business end of a federal indictment? Should he? If the past, especially the collapse of Enron, is prelude, Fuld should...
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Securities Docket (Free subscription) | 01/12/2008
New York Magazine has a very interesting and in-depth story on Dick Fuld and the collapse of Lehman Bros. entitled "Burning Down His House," which asks whether Fuld "is the true villain in the collapse of Wall Street, or is he being sacrificed for the sins of his peers?"
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DealBreaker (Free subscription) | 01/12/2008
We're half-way through Steve Fishman's excellent cover story for the latest issue of New York , the subject matter being (a) Dick. While we take a second to catch our breaths, let's peel some layers from the Richard Severin Fuld, Jr. onion of understanding. Before we get into the tortured soul of The Gorilla, and what are obviously deep-seated issues dating back to childhood, I say we...
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Wall $treet Folly (Free subscription) | 01/12/2008
Dick Fuld got the NY Magazine cover this week. "Is Lehman CEO Dick Fuld the true villain in the collapse of Wall Street, or is he being sacrificed for the sins of his peers?" It's a long article, and we're...
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DealBreaker (Free subscription) | 01/12/2008
I don't get it, I thought Fuld taught us brawn was more important than brains on Wall Street. He was a Gorilla and cracked ribs and threatened to rip people's organs out and didn't take no prisoners or shit from anyone, shouldn't that count for something and by something I mean everything? SHOULDN'T IT'? Fuld was still ostensibly at the helm, but as one executive put it, "The fabric...
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DealBreaker (Free subscription) | 01/12/2008
Plus, Thain threw in a couple of passes to Onesie-ville , which exponentially sweetened the deal in Lewis's eyes. Lewis, it turned out, had jumped tracks. Thain, now Merrill's CEO, had supposedly had an epiphany that Saturday--as recently as the previous Wednesday he'd resisted a plan to sell his company. But sitting at the Fed, he panicked. He called Lewis, who'd long been interested in Merrill's...
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DealBreaker (Free subscription) | 01/12/2008
Is that bad? [Mike Gelband, who was responsible for commercial and residential real estate, had turned decidedly bearish in March 2007, which Fuld and Gregory did not like, so he was fired.] Gregory brought in one replacement, then another for Gelband, the last of whom, Andrew Morton, left in September. None of Gelband's successors had deep experience in real estate. And later, Alex Kirk, who'd...
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DealBreaker (Free subscription) | 01/12/2008
Sometimes you have to treat your employees like your battered wives. It's no big deal. [Mentor and CEO Lew] Glucksman liked to frighten the bankers with his crude physicality and wells of anger--in a rage, he once ripped the shirt off his own back. And Fuld followed in the master's footsteps. The bankers condescended to him, calling him "gorilla" because he seemed to grunt rather than speak...
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DealBreaker (Free subscription) | 01/12/2008
What, like upper middle class Jews from Westchester can't play for Team Poor in Class Warfare? [Fuld was]...under the powerful influence of Lew Glucksman. Glucksman was a gifted, ferocious trader, driven, in large part, by bristling class resentment. The principal targets of Glucksman's ire were the firm's investment bankers, the Waspy Ivy Leaguers who dropped names and chatted up CEOs. [...]...
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DealBreaker (Free subscription) | 01/12/2008
Fuld's (and Gregory's) mother Glucksman was paralyzed on one side, which contributed to the oddity of Fuld's speech. She and her mother live in an isolated cabin in the mountains of midtown. Technically, because she lives in a office, [has someone] cook her food, wears clothing and performs routine 'CEO' tasks, she is not a "wild child" or feral child. She seems like one to outsiders...
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DealBreaker (Free subscription) | 01/12/2008
... apocryphal, that had wide currency at Lehman was that, in the midst of the Long-Term crisis, Fuld encountered John Thain, then Goldman's CFO. Goldman was thought to be a motor of the rumor mill. "How's it going?" asked Thain innocuously. "Not so well," Fuld said. "People are spreading nasty rumors." "I can't imagine that," Thain was supposed to have said. Fuld paused. "When...
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Jossip (Free subscription) | 26/11/2008
Didn't Bill O'Reilly already promise us that he was going to bring shame and disrepair onto the home of Dick Fuld, the Lehman Bros. CEO that managed to screw all his employees and the rest of the American housing market? Then what producer let Fox 5's Arnold Diaz take all the er, glory(?) by having [...]
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New York Magazine (Free subscription) | 01/12/2008
Is Lehman CEO Dick Fuld the true villain in the collapse of Wall Street, or is he being sacrificed for the sins of his peers?
