Posted on 10/06/2008 2:40:49 PM PDT by misterrob
Network verifies reports Richard Fuld was attacked for financial institution's bankruptcy.
It seems anxiety from the financial crisis is reaching new highs, but the tipping point for one individual came at the Lehman Brothers gym in the midst of the company’s collapse.
While former Lehman CEO Richard Fuld was testifying before the House Oversight Committee Oct. 6, CNBC reported he had been punched in the face at the Lehman Brothers gym after it was announced the firm was going bankrupt. CNBC and Vanity Fair contributor Vicki Ward said Fuld was attacked at the gym on a Sunday following the bankruptcy.
“Frankly, I sat there and listened and I’m with the guy who apparently, the day before Barclays announced they were coming in and Lehman had already filed for bankruptcy, went over to him in the gym and punched him because that’s how I feel when I, you know, when I watched that,” Ward said on the Oct. 6 “Power Lunch.” “I didn’t think he was contrite at all, I thought he was arrogant.”
Ward confirmed previous reports about the incident that reportedly occurred Sept. 21 and said the information came from “two very senior sources.”
“From two very senior sources – one incredibly senior source – that he went to the gym after … Lehman was announced as going under. 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 this, I’d have done the same too.”
Ward determined Fuld deserved the beating based on his testimony before the committee.
“I thought he was shameless,” Ward said. “I thought it was appalling. He blamed everyone. He blamed, as you say, ‘naked short sellers’ over and over in case we didn’t get the point, when in fact hedge funds like Harbinger had money locked up in Lehman and was shorting it to try and make the most of the money that they already had. He blamed everybody but himself.”
Lehman Brothers filed for bankruptcy in September 2008 and its assets were later snatched up by the British bank Barclays for $1.35 billion, which included Lehman’s Midtown Manhattan office tower with a $960 million price tag.
A KO? Man, that must've felt good.
Not sure we need that...yet...but imagine how much courage it took for that guy to clean Fuld’s clock the old fashioned way!! It’s awesome....lol!
Severance packages for failed CEOs should be limited to a new pair of work boots and cab fare to the nearest pier. That way, they have two options for doing the right thing.
Nope I think that was the new Wachovia guy.
in the back alley.
BWAHAHAHAHA!! Can someone do that to Obama for saying our troops were air raiding villages and killing civilians??!!!
Not sure we need that...yet...
When are we going to say “enough!”
Well, it wasn’t like the puncher was going to get fired, reprimanded or stripped of his stock options... Sounds like a low risk high reward type of conflict...
“When are we going to say “enough!””
I hear ya....we need to tell the Democrats controlling Capital Hill...ENOUGH!!
If the cost of getting a check for $22 million dollars is a dent in the grill, where do I sign up?
If Congress (snicker, cnicker) gets serious about goin gafter these guys, it ain't his grill thats gonna get dented, but his rear exhaust in prision
If Congress (snicker, cnicker) gets serious about goin gafter these guys, it ain't his grill thats gonna get dented, but his rear exhaust in prison
Congress is not going to get ‘serious’ about any of this if the democrats keep control of the house and senate, because their bloody finger prints are all over it!! I would argue that it is going to get much worse as a matter of fact.
BARNEY FRANK and CHRIS DODD (among others) are the ones that belong in prison.
I admire your restraint, I also admire the heck out the guy who clocked Fuld.
We don’t know the whole story. Fuld was taken down by other insiders. I thought it was interesting he wasn’t talking about it today. JP Morgan look like the real villans. When they got upside down they got the Fed to bail out the cause (Bear), later they engineer a run on Lehman and then lock up the funds LEH needs to stay solvent. And the ex-Goldman Sec. of the Treasury lets them fail, while propping up every other firm in the industry. (Bear, Goldmans, JP Morgan, Merrill have all received a helping hand.)
I believe from his point of view he was screwed over by his fellow sharks. He knows way more than he is saying.
Millions for taking a single shot to the jaw. Nice work if you can get it.
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