Dick Fuld Hangs Himself

[Durruti]

For those interested

Dick Fuld, former head of Lehmann Brothers is currently tying his own noose live on c-span in front of committee.

http://boss.streamos.com/wmedia-live/financialserv...


Compelling viewing.

[Police State]

I don't see it the way your title suggests; I think this Fauld's guy has so far given a very good account of himself. He's easily a match for his inquisitors.

BTW: I know zero about high finance, etc.

[Durruti]

Police State said:

I don't see it the way your title suggests; I think this Fauld's guy has so far given a very good account of himself. He's easily a match for his inquisitors.

BTW: I know zero about high finance, etc.

Well if you think that was a convincing performance, I've got a bridge I'd like to sell you.



More "I do not recall"'s than Ernest Saunders at the height of his Alzheimers.

[HundredthIdiot]

I'm disappointed, I was hoping for a snuff movie.

[Police State]

Durruti said:

Police State said:

I don't see it the way your title suggests; I think this Fauld's guy has so far given a very good account of himself. He's easily a match for his inquisitors.

BTW: I know zero about high finance, etc.

Well if you think that was a convincing performance, I've got a bridge I'd like to sell you.



More "I do not recall"'s than Ernest Saunders at the height of his Alzheimers.

hmmm... I don't recall that many 'I don't recall's'

I found it interesting that he gave a different account of the state of Lehman's on the fateful weekend than the accepted view; specifically they were still liquid and not looking for a bailout, but a bridge to see them through the crisis. He seemed to implicitly suggest that the Fed had decided Lehman's fate and it was, unlike other players, going to let it fall.

He admitted that his main priority was capitalisation, which suggests/implies that it may have been others within the organisation who were charged with taking care of exposure, presumably the market managers, etc.


...that bridge; is it the nice fairy-tale one with the uppy-downy middle, or the wibbly-wobbly one?