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.
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Reader Comments (Page 1 of 1)
9-08-2009 @ 3:11PM
Beltway Greg said...
Not anywhere near as unhappy as the shareholders of this once venerated institution that I can assure you Mr. Fuld. Idaho? Sun Valley is lovely this time of year if you have both the time and means to afford it. Apparently Dick has both.