
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.
I gotta say, while I don't condone violence.... the bastard had it coming.
Hope he got his nose broke!
I don't condone killing, but a well considered punch in the face certainly doesn't seem out of place here. I think all the stockholders that got screwed by this man should get a shot at him.
I gotta say, while I don't condone violence.... the bastard had it coming.
Ditto - wonder what it feels like to have no soul?
I read an article on here about a CEO in India, I THINK, getting beaten to death after laying off some folks. Things are about to get real in corporate world. Really real.
Mars I was thinking the same thing. Now I certainly don't condone violence but in India they don't stand for crap like this they just take out the CEO.
When main street and wall street collide...
Some friends of mine back east are in the investment banking industry. Call the whole bailout a sham.
I have no problem with this whole condoning violence thing. In at least some ways, I'm not a nice person. Wish I'd been there...
Agree with the not condoning violence thing, but can't find too much sympathy for the 'victim' either. At my less than best moments, I think maybe hanging from trees by certain male body parts would be effective! On the more positive side maybe all these financial/investment types working on Wall Street can be retrained and do something more productive than devising rip-off scams - at least they are well-educated so retraining and reorientation should be adequate - may have to take a big cut in pay, but isn't that what they have been telling the rest of us for years. Get educated and reetrained so you can make less than you do in your current career?
Sometimes people react in different ways to losing their life savings.
You know, I have this OTHER business besides the book and sci-fi mag thing. Let's just say it's a personal service and that most of our clients are both Republican and well-to-do.
So today I am at one of these customer's homes and she was working in her home office. But instead of working, she is watching the MSNBC money channel (CNBC?). I forget the channel name...anyway...she's watching the stock market tank.
She tells me she and her husband have already lost thousands of dollars, and she is REALLY angry about it. Even for Republicans, they are nice folks. I don't hold it against them that they get Christmas cards personally signed by George Bush. (laughs)
She also says this: They are voting Democrat for the first time ever on November 4.
I have also heard this from a few other of our Republican customers, some of whom live in places around Seattle like Hunt's Point, Medina, some areas of Bellevue.
Even Republicans know sometimes when they've been had, and the only thing that will motivate them to change their affiliation is MONEY. Hit them in the pocketbook hard enough and they start listening to reason.
The pocketbook is always how Democrats win. If the economy is good, Republicans convince the electorate they are needed to protect them from America's enemies.
I gotta say, while I don't condone violence.... the bastard had it coming.
Aye, I'm thinking a month or so in the pillory for this scoundrel. And a new cable channel PTV to exhibit him and his fellow corporate miscreants.
Aye, I'm thinking a month or so in the pillory for this scoundrel. And a new cable channel PTV to exhibit him and his fellow corporate miscreants.
And I still got dibs on feeding them a lunch of charity pantry food: turkey mystery meat hotdogs on white bread, no condiments, cubed rutabagas, that crunchy foam fake popcorn stuff, and grape Koolaide with too much water added to "stretch" it. - They need to eat like that for a few months since they're personally responsible for so many others having to do so while they have enjoyed their mesclun salads, Chateau Briand, and Cabernet Sauvignon. [Voice of experience]
I'm thinking that since he helped to create the s*** sandwhich from which we all must take a bite....
"Instant karma's gonna get you
Gonna knock you right on the head" - John Lennon
It was about time. I'm sure he'll be suing. Anyone want to start a fund for the defense?
I had to laugh out loud at this one. The guy is lucky all he got is a punch in the face. I don't normally agree with violence, but this one is kind of deserved. Remember the old public humiliations? I think we should bring them back and fast. Where can I sign up to get the rotten tomatos to toss at him?
had it coming?
You guys are so stupid. It's sad to see that what the media tells you instantly becomes your own opinion without question. You don't even understand why lehman failed. You think lehman failed because "they made bad business decisions on mortgages"?
Lehman was taken down juts like Bear Stearns and Washington Mutual. The only mistakes those guys made was making themselves vulnerable. They thought that if JPM Morgan and Goldman Sachs are speculating in mortgage derivatives then it's probably pretty safe to do it. They didn't consider that JPM and GS have friends at the Fed and the Government(Paulson - former Goldman CEO) who will save their ass and purposely destroy competition. Goldman sachs had just as many derivatives but they're not going under.
Also notice that the Bailout bill wasn't introduced until AFTER Lehman failed. It was introduced a few days after Lehman's bankruptcy filing. They were waiting for Lehman to fail. Paulson was very adamant about not saving Lehman.
the mechanics of how they took them down are as follows. They short sell the stock for weeks, and run it down as far as they can. Once the stock goes low enough, Lehman's credit rating get downgraded by the S&P 500 because their stock price is low. at which point lehman has to post additional collateral on their credit default swaps. This additional capital is billions of dollars because they have alot of derivatives. They don't have billions of dollars. And they go under.
Listen to Fuld's speech. Wake up.
I feel sorry for the guy. Not only did these people take down his company, they destroyed his personal wealth and everything he ever worked for. They even made him hated throughout America. I can only imagine what it feels like to be him right now.
He deserves to be hated.
wow John. Great argument!
Whether he deserved to be punched or not he was the head of the company and continued to distribute millions in bonuses to his team as the company was asking for help. If you are serious about funding your company and avoiding going under, you don't take a 66mil bonus and pay 10mil each to departing execs and then yell you need financial aid and your company is failing. Maybe he should have been kicked in his head, with no more regard than he had for his company then to lead it to failure, his head has less to hurt than any other part of his body. You need a conscious to feel pain for others.
Washington Mutual was GOING to fail. There is no doubt of it. The only reason they didn't is because Federal regulators went behind their backs and arranged a sale of the company. Had they not been able to negotiate the sale, WM would have failed within 14 days...
3BEPb -
You guys are so stupid.
Isn't that a bit harsh?
Are you really saying that this titan of finance was just a poor victim? A leader of the financial industry who was up to his neck in every aspect of the business didn't know that derivitives and other exotic scams were risky? That 'everyone else was doing it' so he thought it was safe?
If so, that is, really, incredulous! Or are you just being ironic?
Although my first reaction was to tar and feather the creep, 3BEPb's comment smacks of truth. And although I don't know him personally, I still wouldn't trust Paulson as far as I could throw him. I have certainly never been one to put it beyond gov't and big business to get in bed together, with every intention of cheating on somebody else.
They didn't consider that JPM and GS have friends at the Fed and the Government(Paulson - former Goldman CEO) who will save their ass and purposely destroy competition. Goldman sachs had just as many derivatives but they're not going under.
That explanation may play to conspiracy theorists, but it's too far-fetched to be true. The failure of a bank the size of Lehman is a nightmare for the Fed. Paulson and the feds would never be complicit in a plot that brought a huge problem to their doorstep.
Yes!!!
...but drawn and quartered would have worked too!!
Making themselves vulnerable because they "THOUGHT" JPM Morgan and Goldman Sachs were speculating in mortgage derivatives and felt it safe to do it...
Well, then that IS a very bad business decision. You would expect more then just "I THOUGHT" from a CEO who is supposed to be a professional businessman; okay, I stand corrected....we USED TO EXPECT more.....
$480 MILLION as income while his company was going under, luckily that's all that happened.. Lying weasels.
$14 million home in FLA. Millions in paintings. Jet Set life style
1 KO in the gym: PRICELESS!!
Keep America beautiful...punch a CEO in the face.
I hope the CEOs who took hundreds of millions for themselves, depleted the pensions of their employees and shipped the company jobs to China are all shaking in their boots right now. What a bunch of scumbags!
How nice. Justice for free. I`m sure the courts will prosecute to make sure nobody else is inclined towards true justice. ; )
Or the obscene profits made in the name of law.
Or even worse ... Fuld could bring a lawsuit against the guy in civil court. But good luck finding jurors sympathetic to the plaintiff lol
Yeah I can see the jury being like, "OK, so he punched the guy...but he kind of HAD to! NOT GUILTY!!"
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