Former Lehman CEO is unhappy with book on company's collapse


The New York Post reports that former Lehman Brothers CEO Richard Fuld "was so perturbed over the contents of a book on the demise of his beloved bank that he angrily phoned up a pair of traders he believed helped secretly contribute to the account of Lehman's stunning collapse last September."

The book in question is Lawrence McDonald's A Colossal Failure of Common Sense: The Inside Story of the Collapse of Lehman Brothers, a former executives view of what went wrong at Lehman. Fuld called up former traders Michael Gelband and Alex Kirk and accused them of helping McDonald with background for the book.

Here's a tip for Mr. Fuld: Get a freakin' life. Fuld has been almost completely silent since the collapse of Lehman Brothers, and with good reason. He's been too busy selling a $13 million house to his wife for $10 to protect his assets against an avalanche of lawsuits, and divesting his precious art collection to keep his wife well-clothed in Hermès couture -- although she reportedly asked for a white bag to disguise her purchases instead of the store's normal branded bags.

Fuld's reputation is in the toilet because Lehman Brothers collapsed under his watch -- and he expressed little contrition when he testified before Congress, explaining that his decisions to turn the company into a casino "were both prudent and appropriate" given the information he had at the time.

Basically Fuld has much more important things to worry about then a few disgruntled former employees spilling their guys to a guy who wrote a book.

A brave reporter from Reuters managed to track Fuld down at his country home in Idaho and score a brief interview. Fuld remains sad and defiant, focus his rage on the federal government that didn't bail out his company.

Reader Comments (Page 1 of 1)

Symbol Lookup
IndexesChangePrice
DJIA+49.5712,850.80
NASDAQ+24.322,928.20
S&P 500+7.731,350.37

Last updated: February 13, 2012: 10:24 AM

Hot Stocks

General Electric

18.935+0.06(+0.32)

Alcoa

10.32+0.03(+0.29)

Apple Inc

499.29+5.87(+1.19)

Google Inc 'A'

612.61+6.70(+1.11)

Bank of America

8.24+0.17(+2.11)

Wal-Mart Stores

61.87-0.03(-0.05)

Exxon Mobil Corp

83.96+0.16(+0.19)

Ford

12.56+0.12(+0.96)

Citigroup

33.43+0.505(+1.53)

IBM

192.75+0.33(+0.17)

Yahoo

16.09-0.05(-0.31)

Starbucks

48.95+0.13(+0.27)

Microsoft

30.61+0.115(+0.38)

Home Depot

45.61+0.28(+0.62)

DailyFinance Headlines

Benzinga Headlines

TheFlyOnTheWall.com Headlines

BioHealth Investor Headlines

WalletPop Headlines

DailyFinance BlackBerry App

My Portfolios

Track your stocks here!

Find out why more people track their portfolios on AOL Money & Finance then anywhere else.

BloggingStocks Partners

More from AOL Money & Finance

BioHealth Investor Headlines

Page Loaded in 1329146673385 ms.