Richard Fuld news stories on Newser

Lehman CEO Blames Fed for Financial Crisis

Imperator — Wed, 01 Sep 2010 21:09:12 CDT

In a remarkable case of the pot calling the kettle black, Lehman Brothers' former CEO Richard Fuld pointed a finger at the US Federal reserve today, saying it worsened the financial crisis in September 2008. Testifying at a hearing, Fuld blamed the Fed for letting the investment bank fail. He...

Meet the Best Paid Execs of the Decade

Kevin Spak — Tue, 27 Jul 2010 09:37:28 CDT

Maybe those giant executive pay packages weren’t such great ideas after all. Of the eleven highest paid executives of the last decade, five presided over companies that lost their shareholders money, the Wall Street Journal reveals today, breaking down the numbers to reveal who the decade was most generous to....

Lehman Post Mortem Bares Shady Tricks

Rob Quinn — Fri, 12 Mar 2010 03:40:00 CST

Lehman Brothers tried to buy itself time by manipulating accounting gimmicks to disguise its bad investments, according to a court-ordered report on the firm's demise. The exhaustive, 2,200 page report found that execs, including former CEO Richard Fuld, could be held legally liable for the "materially misleading" attempt to...

Advice to Budding Journos: Hate Is the Hottest Beat

Harry Kimball — Mon, 14 Sep 2009 16:15:38 CDT

Who says journalism is dead? Sure, newspapers are slashing newsroom staff and shutting down bureaus, Simon Dumenco writes in Advertising Age , but there’s still one booming sector: hate. “ Everything is a hate beat these days, because everybody is consumed with hating on everybody else.” And you can specialize: Reality hate:...

Fuld: 'I Was Whipping Boy' for Lehman Failure

Rob Quinn — Tue, 08 Sep 2009 01:58:41 CDT

Former Lehman CEO Richard Fuld is ready to get dumped on again as the anniversary of the company's collapse nears, he told a Reuters reporter. Fuld was widely blamed for leading Lehman into the biggest bankruptcy in US history, although former execs are still bitter that rivals Bear Stearns, Merrill...

Magna Cum Fraud: Top Schools for Scoundrels

Matt Cantor — Tue, 24 Mar 2009 14:33:37 CDT

Many of the bigwigs involved in the financial crisis went to the same few elite schools, notes Joe Weisenthal in Business Insider . Maybe, he writes, when the crisis begins to fade, we’ll think twice about having another Harvardian or MIT grad running things. Among the offending institutions: New York University:...

Chrysler, Merrill CEOs Passed Houses to Wives, Too

Kevin Spak — Mon, 09 Feb 2009 13:42:01 CST

Dick Fuld’s wife isn’t the only one getting a discount mansion. Chrysler CEO Robert Nardelli and ex-Merrill Lynch honcho Stanley O’Neal have followed Fuld’s lead, handing their multimillion-dollar homes to their spouses, according to property records obtained by the New York Post . Such deed transfers are often used to protect...

Wall Street's Hottest Jobs? Lehman Bros

Rob Quinn — Mon, 02 Feb 2009 07:00:30 CST

Wall Street's hottest jobs in 2009 are coming from its biggest disaster of 2008—Lehman Brothers, the Wall Street Journal reports. Lehman still has billions of dollars in assets and contracts to untangle and restructure, and Wall Street's legions of laid-off execs are keen to get a piece of the...

Lehman CEO Sells Mansion to Wife—for $100

Jason Farago — Mon, 26 Jan 2009 06:44:02 CST

The housing market is weak, but the $13 million mansion of fallen Lehman CEO Richard Fuld on the Florida coast fetched just $100 last November, reports Reuters. So who forked over the C-note for the seaside property? Fuld's wife Kathleen, famous for carrying her Hermès purchases in generic shopping bags....