LEH's Fuld admits he was responsible for multi-billion dollar loss

Discussion in 'Wall St. News' started by wilburbear, Sep 9, 2008.

  1. The quote in the last paragraph is from Yahoo Finance.

    Why is Fuld battling the "internal dissent" at LEH, just to save himself? He's keeping the company from getting a fresh start. If he knew about the excessive leverage at LEH, he should be asked to resign tomorrow. If he wasn't aware of the excessive leverage at LEH, he should be fired yesterday. It's time to move forward.

    "Richard Fuld is handling the crisis, and will right its damaged balance sheet, analysts said. He took responsibility for a $2.8 billion second-quarter loss, which was the first since Lehman spun off from American Express Co. in 1994".
  2. nkhoi

    nkhoi Moderator

    "Lehman Brothers upgraded Reed Elsevier (RUK) to overweight from equalweight, downgraded Pearson (PSO) to underweight from equalweight and cut Vivendi to equalweig ht from overweight Wednesday in a review of the European media sector. Lehman said that Thomson-Reuters PLC (TRIN) remains its top pick in the sector but cut Thomson-Reuters Corp. to equalweight from overweight, citing arbitrage opportunities."

    Can they can give themselves an upgrade?
  3. No sell yet, might get a sell sub $1.00. Just like Enron, Bear,Freddy,Fannie.
  4. More and more calls on TV today to remove Fuld.
  5. How'd he take responsibility - did he offer to pay the company back the amount? :confused:

    Wow - THAT'S a LEADER, not a sniveling grubber!!!
  6. Brandonf

    Brandonf ET Sponsor

    Same could be said of MER. All of these CEO's at the financial companies are either A) Criminals or B) Asleep at the wheel, which is criminal in the case of a public corp
  7. My question on these i-banks is-- why should ANYONE care what they upgrade or downgrade or what their target prices are? These companies can't even manage themselves, let alone give financial advice and opinions to others.It is basically like a 350 pound smoker giving advice on how to be healthy.