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Dick Fuld: Another Coward and Shirker

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March 13, 2010 – Comments (5)

So, now we know Lehman was hiding $50 billion in leverage by using this 105-ey repo thingies  to pretend assets had been sold, when actually, they'd be coming back onto the balance sheets in a few days after earnings.

What's former CEO Dick Fuld's commentary on this slimy accounting? "I knew Nuh-sink!"

This is why people hate CEOs. When things are going well, they sit in the big boy chair and pretend it's all owing to their great leadership, vision, and smarts. And when things go bad, they call the problems external, inevitable, and grasp for their moolah just the same. And when their companyies are found cooking the books to hide debt and mislead the public, they claim they had no knowledge of it.

Dick Fuld, you make a pretty hilarious victim these days. You deserved to lose more than a billion, buddy. In some countries, you'd be bargaining to keep your head on your shoulders.

And Barclay's, congratulations on scoring Ian Lowitt, the guy who spread a pile of lies to investors about all this when he claimed Lehman had reduced assets by $70 billion when in fact most of that was a temporary smokescreen. I'm sure Barclay's must feel great about having such a stand-up character as COO.

While you're at it, you should consider hiring Tiger Woods for the HR department. I hear he gives a heckuva sexual harassment seminar.

Sj

5 Comments – Post Your Own

#1) On March 13, 2010 at 8:58 PM, imobillc (< 20) wrote:

This is the type of post that I wish people commented and debated about it. But as always, no one really gives a flying **** about it.

No one these days have a back bone, everyone is a sellout pushover.

Everyone is scared of debating about the fraud perpetrated by some of the so called "smart/genius Bankers".

Blame the ignorant home owners and the government for everything, and continue to do nothing about it!

Sometimes I contemplate if this blog is just a waste of time, and than a post like yours comes along and gives me hope that not all members are not eve.

I see a back bone on you

 

      Mars 

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#2) On March 13, 2010 at 8:59 PM, imobillc (< 20) wrote:

This is the type of post that I wish people commented and debated about it. But as always, no one really gives a flying **** about it.

No one these days have a back bone, everyone is a sellout pushover.

Everyone is scared of debating about the fraud perpetrated by some of the so called "smart/genius Bankers".

Blame the ignorant home owners and the government for everything, and continue to do nothing about it!

Sometimes I contemplate if this blog is just a waste of time, and than a post like yours comes along and gives me hope that not all members are not eve.

I see a back bone on you

 

      Mars 

Report this comment
#3) On March 14, 2010 at 4:22 AM, williambanzai7 (< 20) wrote:

ANNOUNCING THE REPO 105 CARTOON SERIES:

http://williambanzai7.blogspot.com/2010/03/repo-105-inaugural-cartoon.html

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#4) On March 14, 2010 at 12:17 PM, Imperial1964 (97.82) wrote:

Have there been any arrests yet?...

I'm waiting.
But not holding my breath.

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#5) On March 14, 2010 at 2:12 PM, eldemonio (98.64) wrote:

What else would you expect from a guy named Dick Fuld?  I mean, he might as well be named Foreskin McGee. 

 

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