Richard Fuld: Why Lehman Brothers Went Under

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Paulson saw Lehman coming very fast and strong. Lehman was Goldmans most feared competitor among all global investment banks. Believe it or not. Lehman was more focused, took lower trading risk, made smarter invetsments and had higher ROE's through all the years and hence had an extremely strong anual growth rate in all measures. Appearently the only chance to stop the Lehman troops was a political gambit. In his role as treasury secretary Paulson got the chance to protect his old Goldman buddies from Lehman Brothers. He rejectetd every help Lehman asked for. But he gave the aid to everyone after the Lehman collapse. While rescuing AIG big time he saved Goldman big time. I mean he SAVED them from dead. He allowed Morgan and Goldman to convert to banks and so gave them the chance to not mark-to-mark all their assets. These were all Lehman ideas. Sorry, but this looks like revenge. Paulson is the looser because he acted like a coward. If there was a crook it is not Fuld. Fuld was great and an upright warrior. Point your finger to the candy asses of G'man Suxx......

Rich of NY 4:48PM May 10, 2009

Fuld is human and made mistakes. Have you seen this whitepaper on what Lehman's board could have done to manage executive risks? Http://www.scientificleader.com

Matt Barney of CA 2:52PM November 06, 2008

what kind of business plan did they have?
without thinking if incase these scenario happen, do they have a plan for this?

john ken buen of 10:42PM October 13, 2008

IT IS IMPORTANT FOR THE NEW PRESIDENT TO USE ALL THE POWER OF
THE FEDERAL GOVERNMENT AND THE JUSTICE DEPARTMENT TO MAKE SURE
THAT THE GROSSLY PAID EXECUTIVES THAT COMMITTED FRAUD , ARE
PROSECUTED TO THE FULLEST EXTENT OF THE LAW . IF YOU CONSIDER
THE CONSEQUENCES OF WHAT IS HAPPENING TO SO MANY MILLIONS OF
PEOPLE , THIS SHOULD GO DOWN IN HISTORY AS ONE OF THE GREATEST
CRIMES OF ALL TIME .
I HAVE NO DOUBT IN MY MIND THAT SERIOUS CRIMES WERE COMMITTED
HERE , MAINLY FRAUD BY DISTORTING INFORMATION ABOUT COMPANIES
THAT THE HIGH DOLLAR EXECUTIVES KNEW THE FACTS ABOUT BUT FAILED
TO DO THE RIGHT THINGS TO KEEP SO MANY PEOPLE FROM LOSING SO
MUCH MONEY .
I WILL NOT BE SATISFIED UNTIL I SEE SEVERAL PEOPLE GO TO JAIL
FOR MANY YEARS FOR WHAT HAS BEEN DONE HERE .

SERGIO R. BUSTAMANTE of MD 4:43PM October 10, 2008

For the last 4years us fools at coffee would say can you believe they are giving homes to people without down-payments which drove housing prices in California to un-heard of levels. They actually encourage it because the tax base is based on a homes selling price and they need the money to cover the crazy pensions of a retired government worker. Now what are they going to do. we pegged bankers and we had 20 to 30 % down. They should tap the government pension plans with bailout money and maybe they would pay more attention. Just a joke to watch the jerks in these trials with all the ideas which now do not even matter.No one is going to bail me out of my recent losses.

Art of CA 7:34AM October 09, 2008

what is the next strategy to save the shares. Is it going up or down from $0.15 in near future because your estimation is that it will go $ 8 at the end of this year.

saad of OH 4:09PM October 07, 2008

These greedy people who don't care about anyone but themselves need to be thrown in JAIL forever. I don't care what he says...he knew his decisions were bankrupting his company, but he didn't care as long as he got his $$$. Throw him in jail next to O.J.Simpson....they're two of a kind.....LIARS !!!

BC of OR 3:32PM October 07, 2008

I think Executives in massive companies are like Running Backs in the NFL. With running backs (aside from fumbling) if they do well, they are Brilliant runners. If they do poor; it's the Offensive Lines fault.
But either way both will most likely walk away with a ton of money.

yep! of PA 3:17PM October 07, 2008

The only reason Fuld said he takes full responsibility is because he wants to reduce the jail time that he BETTER get! WaWa...I don't want to hear excuses. You got paid $60Mil a year to make decisions, clearly you made a lot of bad ones. You're a self-serving hypocrite...just like all the others. P.S. I want my $60mil/year back and I want you in jail.

Kathy of MA 11:40AM October 07, 2008

FRANCIS KWAKU ACQUAH:BRAVENET&CONDUIT GLOBAL WEBSERVICES OWNER.TEL.+34617762191,FAX.940460080.URL:HTTP://WWW.KWEIKUMAPO.BRAVEHOST.COM.WWW.MICROSOFT.COM.SAYS YOU ALL WELCOME TO THE HOUSE OF ORIGINAL MAPO.AND STAY COOL AND FEEL THE RETHERM.THANKS U.ALL.

FRANCIS KWAKU ACQUAH of NY 9:50AM October 07, 2008