Richard Fuld punched in face in Lehman Brothers gym

Discussion in 'Wall St. News' started by Red_Ink_inc, Nov 16, 2008.

  1. Kind of an old story but I have not seen it posted before.


    Richard Fuld, the disgraced head of Lehman Brothers, was punched in the face in the office gym amid the bank's collapse.

    By Jon Swaine
    Last Updated: 9:14AM BST 07 Oct 2008

    Richard Fuld, the former Lehman Brothers CEO, was punched in the gym. Mr Fuld, who has been testifying on the financial crisis before the US House Oversight Committee, was attacked on a Sunday shortly after it was announced that the banking giant was bankrupt.

    Following rumours that the incident had occurred, Vicki Ward, a US journalist, said "two very senior sources - one incredibly senior source" had confirmed it to her. "He went to the gym after ... Lehman was announced as going under," she told CNBC. "He was on a treadmill with a heart monitor on. Someone was in the corner, pumping iron and he walked over and he knocked him out cold.

    "And frankly after having watched [Mr Fuld's testimony to the committee], I'd have done the same too."

    "I thought he was shameless ... I thought it was appalling. He blamed everyone ... He blamed everybody but himself."

    Lehman Brothers, which was particularly badly hit by "toxic" mortgage debt, filed for bankruptcy last month. Its assets were later bought up by Barclays.

    In a robust performance in front of the committee, Mr Fuld said that he would wonder "until they put me in the ground" why the US government had not rescued the 158-year-old firm. He said that regulators were fully aware of its plight well before its collapse.

    Mr Fuld said: "I want to be very clear. I take full responsibility for the decisions that I made and for the actions that I took based on the information that we had at the time."

    However he faced angry questioning from the committee's members. Henry Waxman, a Democrat, asked: "Your company is now bankrupt, our economy is in crisis, but you get to keep $480 million (£276 million). I have a very basic question for you, is this fair?"

    Mr Fuld said that he had in fact taken about $300 million (£173 million) in pay and bonuses over the past eight years.
  2. I heard this from a buddy that still works at Lehman a month or so ago.

    What kind of jackass goes to work out at the same gym where he probably fired at least a dozen or so people that are in there at any one time?????

    I am sort of surprised some disgruntled employee hasn't done anything worse than this with everything that has happened so far with the financial firms.

  3. Fuld should have got up after being punched and went and punched Paulson in the nose. Shit flows up hill this time.
  4. That's what I was thinking. If I was him I'd have got the f*ck out of NYC. This man is either the dumbest guy alive or has brass balls.
  5. Ah - you forgot something in your list...dumbest guy alive or has brass balls..."and a glass chin" ;-)