Lehman E-Mail: Execs Mock Idea of Bonus Cut

Higher-ups at the now bankrupt firm scoffed at the notion that they wouldn’t get bonuses.

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Just before Richard Fuld, the CEO of the now bankrupt Lehman Brothers, testified on Capitol Hill Monday, House Committee on Oversight and Government Reform staffers distributed a handful of E-mails that they had obtained during their investigation of the company.

Perhaps the most damaging one is the following. In it, two executives—Fuld and George H. Walker, who sits on Lehman’s executive committee and is a cousin to President George W. Bush—dismiss a recommendation that top management forgo its bonuses for the year.

Lehman Brothers
executive pay