Lehman CEO looks to become judgement proof

Former Lehman Bros. CEO Richard Fuld -- the man who drove the company into extinction -- is proving himself to be one of the most shameless persons on the planet.

Five years ago, he and his wife bought a $13 million mansion in Jupiter Island, Florida. He just sold it to his wife for $10. The reason seems obvious: with shareholder class-action lawsuits breathing down Fuld's neck, he's looking to preserve his assets from potential creditors or even a possible bankruptcy filing.

Lawyers tell The New York Times that the sale may not do much to protect Fuld's assets because the low price could qualify it as a case of fraudulent conveyance.

The Times reports on some additional Fuld shamelessness: "When Mrs. Fuld went shopping at Hermès over the holidays, she requested white bags - rather than the brand's signature orange ones - to try to disguise her purchases."

It's amazing that Fuld doesn't have more shame. He's more concerned about keeping his mansion than preserving whatever is left of his reputation as a human being. Is it even possible for him to enjoy his $13 million mansion at this point? Does he have any conscience at all? I wonder if the headlines trashing him even bother him. It's possible that he's deluded himself into thinking that he's done nothing wrong.