Dick Fuld, the former Lehman Bros. CEO who has “no regrets” about helping to spark the biggest financial crisis of our generation, is selling off his 75-acre estate in Sun Valley, Idaho. We pray he makes enough to hang onto his three other homes.
Classic Wall Street Villain to Haters: "Bite Me"
Dick Fuld was the head of the investment bank Lehman Bros. in 2008 when the bank collapsed in the biggest bankruptcy in history, kicking off the worst part of the financial crisis. Who can say if Dick Fuld ever did anything “wrong?” Not Dick Fuld!
Five Years After Lehman, Is Wall Street Any Safer?
Five years ago this week, the storied Wall Street firm Lehman Brothers collapsed, heralding the true onslaught of the Great Recession. Has the system been "fixed" since then?
Lehman Brothers' Art Collection Up for Auction
Sotheby's next week will auction off the $10 million art collection of deceased investment bank Lehman Brothers, including works by Damien Hirst. One collector said, "It's not a fire sale, but it's priced to sell." Just like a subprime mortgage!
Lehman Execs Insist Hiding $50 Billion Totally Not a Big Deal
You know how Lehman Brothers used technically legal (but deceptive) accounting tricks to made $50 billion disappear? Lehman execs are like, whatevs. "They just want to be mad and don't know what they're talking about and want to be outraged."
Dick Fuld Gives Back
Dick Fuld is ready to restore his good name! The former CEO of Lehman Brothers and current Wall Street punching bag set up a new company a few months ago called Matrix Advisers, and now sources tell the Post that Fuld plans to use focus his energies at the firm on raising capital for small businesses. It's not quite…
Fuld Feels the Pinch
Former Lehman Brothers CEO Dick Fuld has been out of sight for months now. (He's been spending much of his time holed up at his house in Idaho.) His problems, howver, continue, it seems. Over the past year, he's unloaded part of his art collection, sold off his apartment on Park Avenue, and given up his memberships…
'Highest Paid Man on Wall Street' Ignites Culture War at His Kid's Prep School
Hugh "Skip" McGee III has a rumored $25 million salary at Barclays, and he finds lefties and lesbians just sickening. In an epic letter to the board of his son's school, he implores the "silent majority" to strike back.
Extreme Makeover: Wall Street Edition!
Wall Street CEOs make a fortune, as you're undoubtedly aware. Even the chief executives of banks that have been bailed-out by Washington or have gone bust usually end up doing nicely. But despite the riches and perks these men have accumulated and massive egos they've developed along the way, few of them would do…
Andrew Ross Sorkin's Front Row Seat to the End Of The World
Andrew Ross Sorkin's Too Big To Fail describes, in intimate detail, the days leading up to the collapse of the biggest financial institutions in America. Did the men in that room pull us from the brink or push us over?
Dick Fuld Surrenders the Ridge
Big news for golf aficionados who also happen to be closely following the one-year anniversary of the collapse of Lehman Brothers. As Reuters reported last week, ex-Lehman CEO Dick Fuld gave up his membership at the Blind Brook Country Club in Purchase following his fall from grace last year. Our trusted source for…
For Sale: The Lehman One-Year Anniversary 'Special'
It's been a year since Lehman Brothers went bankrupt, an event that rocked the financial markets around the world, unleashed a wave of panic, and changed Wall Street forever. Did you think the merchants of Lehman memorabilia on Ebay would miss out on this priceless opportunity to offer up "one-year anniversary…
Lehman Bankers One Year Later: Same People, Same Psychological Shortcomings
The NYT Business section did a nice little Where Are They Now on some fallen banker komrades from Lehman Brothers. Are they destitute? Are they happier? Are they better than they were before? And: should we feel bad for them?
Lehman Brothers: The Movie
The movie about the fall of Lehman Brothers aired on the BBC last night. The Financial Times' Alphaville blog wasn't the least bit impressed with the "cringeworthingly hilarious" made-for-TV production. The "failed irony, bad acting and moral superiority," along with "overly earnest analogies to the movie Fight…
Dick Fuld Will Not Be Defeated
It's been nearly a year since Lehman Brothers went bust, making it the perfect occasion to send a reporter to hunt down Lehman's former CEO, Dick Fuld. A Reuters correspondent managed to find him last Friday, looking tan and dressed in and well-rested at his "country house in a bucolic setting beside a river and amid…
Joe Gregory Needs $233 Million in Cash, Label Maker
Joe Gregory, the cash-starved former president of Lehman Brothers, hasn't had much luck selling his oceanfront house in Bridgehampton. (He cut the price from $32 million to $27.9 million a few months back, although that hasn't helped any, apparently.) Time to move on to Plan B, it seems. Gregory is now asking a…
Invest With Confidence
Leave it to a former employee of Lehman Brothers to come up with the worst name for a hedge fund ever. Edward Filippi, who once sold commodity investment products for Lehman, is the founder of Ground Zero Strategic Commodities: "Putting the words 'ground zero' in a hedge fund name may disturb many people, as it…
The Best Legal Gig In Town
Stephen Dannhauser, the chairman Weil, Gotshal & Manges, has every reason to be sitting smugly in his office chair in the middle of Midtown. Last week, a judge signed off on the firm's $55 million tab for the work Weil has performed in connection with Lehman Brothers' bankruptcy; this week, the firm submitted …
Dick Fuld Returns to the Glare
As if former Lehman chief Dick Fuld wasn't enough of a villain as it is given his role in the investment bank's collapse last fall, it turns out he was a tax cheat, too. The Times reports today that the Bloomberg administration is accusing Lehman of failing to pay the city some $627 million in taxes between 1996 and…
