tagged w/ Richard Fuld
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Housing prices are falling around the country, but this one sounds hard to believe: A seaside mansion on Jupiter Island in Florida, bought for more than $13 million five years ago, was just sold for $10.
His name is Dick. That about sums it up.Housing prices are falling around the country, but this one sounds hard to believe: A... more
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Fallen Lehman Brothers' chief executive Richard Fuld sold his $US13.3 million ($20.3 million) mansion to his wife for just $100 ($152) last November, Florida real-estate records show.
It is thought he has begun transfering his assets to family in an effort to protect them from any forthcoming civil suits!
Greedy? Should this be allowed?Fallen Lehman Brothers' chief executive Richard Fuld sold his $US13.3 million... more
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"Prosecutors have stepped up the investigation into the collapse of Lehman Brothers, with at least a dozen subpoenas being issued including one to the investment bank's chief executive, Richard Fuld, The New York Times reported on Saturday.
Citing people close to the probe who requested anonymity, the Times said federal prosecutors in Brooklyn, Manhattan and New Jersey were examining events leading to Lehman's collapse and bankruptcy filing.
One person said New Jersey prosecutors were looking into whether Lehman executives including Fuld misled investors involved in the $6 billion infusion of capital announced by Lehman in June about the bank's condition, the Times said. That infusion came as Lehman disclosed a $2.8 billion third-quarter loss, which caused its shares to plunge."
Read the rest at link ..."Prosecutors have stepped up the investigation into the collapse of Lehman... more
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Richard Fuld, the disgraced head of Lehman Brothers, was punched in the face in the office gym amid the bank's collapse.
Mr Fuld, who has been testifying on the financial crisis before the US House Oversight Committee, was attacked on a Sunday shortly after it was announced that the banking giant was bankrupt.
Following rumours that the incident had occurred, Vicki Ward, a US journalist, said "two very senior sources - one incredibly senior source" had confirmed it to her. "He went to the gym after ... Lehman was announced as going under," she told CNBC. "He was on a treadmill with a heart monitor on. Someone was in the corner, pumping iron and he walked over and he knocked him out cold.
"And frankly after having watched [Mr Fuld's testimony to the committee], I'd have done the same too."
"I thought he was shameless ... I thought it was appalling. He blamed everyone ... He blamed everybody but himself."
Lehman Brothers, which was particularly badly hit by "toxic" mortgage debt, filed for bankruptcy last month. Its assets were later bought up by Barclays.
In a robust performance in front of the committee, Mr Fuld said that he would wonder "until they put me in the ground" why the US government had not rescued the 158-year-old firm. He said that regulators were fully aware of its plight well before its collapse.
Mr Fuld said: "I want to be very clear. I take full responsibility for the decisions that I made and for the actions that I took based on the information that we had at the time."
However he faced angry questioning from the committee's members. Henry Waxman, a Democrat, asked: "Your company is now bankrupt, our economy is in crisis, but you get to keep $480 million (£276 million). I have a very basic question for you, is this fair?"
Mr Fuld said that he had in fact taken about $300 million (£173 million) in pay and bonuses over the past eight years.
Richard Fuld, the disgraced head of Lehman Brothers, was punched in the face in the... more
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Former Lehman Brothers CEO Richard Fuld spoke to a House panel to explain his involvement in the former investment banks demise. Fuld, who admitted to taking over $300 million in compensation while at the company stated that he was willing to take "full responsibility" for his actions at Lehman Brothers. Decisions he said were "prudent and appropriate" based on the information available to him.Former Lehman Brothers CEO Richard Fuld spoke to a House panel to explain his... more
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