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Sep 13, 2013
09/13
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and there's a big paper in the journal of management inquiry, on dick fuld's narcissism. ds of narcissisnarcissism. and it's rampant on wall street. it can be a force for good, as it was initially when fuld was building up lehman, and a force for bad. >> i think that same narcissism exists in the obama administration, who has the audacity to consider larry summers the architect of the delegislation that led to the crisis to run the fed. and he lost $1 million making a bad bet on interest rates, and we're like, i think you should be in charge of interest rates. that's a really good idea. you have a demonstrated history of failing to do that. >> the only people who have been sanctioned. where is the account skpblt where is the sanction? dick fuld has been the fall guy. it's not like he's poor or in prison or screwed over like tens of millions of americans have been. but he has kind of like weirdly fallen out of favor. but it's as if it was just the problem of dick fuld and lehman. >> that's the tragedy of dick fuld, that other wall street ceos that i spoke to don't look at h
and there's a big paper in the journal of management inquiry, on dick fuld's narcissism. ds of narcissisnarcissism. and it's rampant on wall street. it can be a force for good, as it was initially when fuld was building up lehman, and a force for bad. >> i think that same narcissism exists in the obama administration, who has the audacity to consider larry summers the architect of the delegislation that led to the crisis to run the fed. and he lost $1 million making a bad bet on interest...
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Sep 17, 2013
09/13
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dick fuld doesn't know how to do anything more.oo far removed from the career out there to get to rise in his position. he is so radioactive -- melissa: right. >> he will not big in business for any new firm t would be such a joke to have him on the letterhead. it is too far gone. i heard he gave a speech soon after the whole lehman collapse and tried to, you know, inject a little humor, and i'm the most hated man in america. no one laughed. melissa: they were just like, that is sort of a statement. even if you look at contemporaries, look at john thain, ceo of merrill lynch. of course, same time, similar situation. i wonder if the difference with dick fuld was, i remember at the time, when he kept going on tv and reassuring people that he had it under control. and then later when we replayed all the sound bites and we went back and looked at it was he delusional and didn't understand how out of control it was or was he lieing? i mean is that one of the differences? we really watched him come out and talk about how everything was o
dick fuld doesn't know how to do anything more.oo far removed from the career out there to get to rise in his position. he is so radioactive -- melissa: right. >> he will not big in business for any new firm t would be such a joke to have him on the letterhead. it is too far gone. i heard he gave a speech soon after the whole lehman collapse and tried to, you know, inject a little humor, and i'm the most hated man in america. no one laughed. melissa: they were just like, that is sort of a...
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Sep 13, 2013
09/13
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hi, i'm dick fuld, the most hated man in america. marveling how little it's changed.et remains the destination for newly minted college grad given low barriers to entry. says lewis, if you're a certain kind of kid who doesn't know anything about anything, wall street is still a great place to go. joining me senior national correspondent with bloomberg josh green and the special issue on the financial crisis and also joining us business and economics correspondent matthew iglesias. josh, i'd like to go to you first in terms of what happened five years ago. on some level many people would remember the financial crisis, i'm still going through. many remember the big fish, lets talk about fuld, i will quote you to you, the uncomfortable exercise i perform on the show. you write, no one on wall street has paid a steeper price in reputation and personal fortune, this partly to fuld's hubris, nicknamed gorilla. also circumstances and twists beyond his control as a former chief financial officer says he's the great greek tragedy of the crisis. that is a heavy is the head that
hi, i'm dick fuld, the most hated man in america. marveling how little it's changed.et remains the destination for newly minted college grad given low barriers to entry. says lewis, if you're a certain kind of kid who doesn't know anything about anything, wall street is still a great place to go. joining me senior national correspondent with bloomberg josh green and the special issue on the financial crisis and also joining us business and economics correspondent matthew iglesias. josh, i'd...
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Sep 14, 2013
09/13
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CNN
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you may, of course, remember dick fuld, former ceo of lehman brothers. he led his company to the largest bankruptcy in american history. five years on like many americans, fuld has struggled to land a full-time job since the crisis. he launched his own financial advisory firm in 2009 and serves as an adviser to a green technology company. he made headlines again this summer after suing his ex-son-in-law for not paying back a $9 million loan. next up is angelo mozilo, the former ceo of countrywide financial, one of the largest subprime mortgage lenders in the country. many people blamed him for issuing loans to people who clearly could not afford them. he's kept a low profile after being banned from ever running a public company. henry paulson was the treasury secretary. he made the difficult call to let lehman brothers collapse. paulson heads up a think tank he founded in 2011 to promote a cleaner environment. and next up is, of course, timothy geithner. back at the time of the financial crisis, he was running the new york federal reserve bank. he, of co
you may, of course, remember dick fuld, former ceo of lehman brothers. he led his company to the largest bankruptcy in american history. five years on like many americans, fuld has struggled to land a full-time job since the crisis. he launched his own financial advisory firm in 2009 and serves as an adviser to a green technology company. he made headlines again this summer after suing his ex-son-in-law for not paying back a $9 million loan. next up is angelo mozilo, the former ceo of...
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Sep 17, 2013
09/13
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. >> reporter: dick fuld was a star on wall street, the longest running ceo of any firm. in 2007 he mounted a vicious campaign against short sellers that he said were trying to put lehman out of business. >> what i really want to do is i want to reach in, rip out their heart and eat it before they die. [ laughter ] >> reporter: five years after lehman's collapse, fuld is chase sent. has a small consulting firm in manhattan, no high-profile clients or among that are saying so. of the clients he has one warned his tarnished reputation could be potentially be damaging. fuld has tried to avoid civil and criminal charges and ran legal bills in the billion of dollars paid for by the lehman estate. many the investigation was dropped after it was concluded there wasn't enough evidence against him. he rode his lehman stock all the way down from a billion down to $56,000, he's not exactly poor. he has his mansion worth over $8 million and sold a park avenue apartment and art now $46 million but told friends and others he is still consumed thinking about lehman brothers. since stepp
. >> reporter: dick fuld was a star on wall street, the longest running ceo of any firm. in 2007 he mounted a vicious campaign against short sellers that he said were trying to put lehman out of business. >> what i really want to do is i want to reach in, rip out their heart and eat it before they die. [ laughter ] >> reporter: five years after lehman's collapse, fuld is chase sent. has a small consulting firm in manhattan, no high-profile clients or among that are saying so....
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Sep 13, 2013
09/13
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tell us about your relationship with dick fuld.k people understand it. >> first of all, the call to my brother that weekend, it was the following friday. so that lehman brothers went down on a sunday, and the week afterwards was like nothing i've ever experienced. we were juggling multiple balls, we had the money markets, had aig, we had concern about other institutions, the big emphasis to go to congress and get the t.a.r.p. and it was really -- i called my brother dick on the friday morning. it just occurred to me, with everything going on -- and i had not and called him. he's a good friend, he was my best friend, senior vice president, veteran fixed income salesman at lehman brothers. what i remember best about that call, it was quite an emotional call for me. i was calling to explain we'd done everything we possibly could. he just didn't want to talk about that. he said i know you did everything you could. how are you holding up? because he knows i don't take defeats easily. >> what was your relationship like with dick fuld, th
tell us about your relationship with dick fuld.k people understand it. >> first of all, the call to my brother that weekend, it was the following friday. so that lehman brothers went down on a sunday, and the week afterwards was like nothing i've ever experienced. we were juggling multiple balls, we had the money markets, had aig, we had concern about other institutions, the big emphasis to go to congress and get the t.a.r.p. and it was really -- i called my brother dick on the friday...
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call we don't call it that of all i could go on so here you got all these executives you've got dick fuld he was the c.e.o. of lehman brothers at the time he's still holding on to five hundred twenty nine million bucks that he made off with. three mega mansions and i'm curious politics are now. going to care about politics don't have a liberal i did not know you very much that well jimmy cayne c.e.o. i still don't want to have five hundred thirty nine million dollars jimmy cayne former c.e.o. of bear stearns the man who oversaw that firm's gambling on home loans water three hundred million dollars he's playing high stakes bridge a bridge game in his bridge games in his retirement these are just two guys who made off like bandits isn't there something wrong with this picture all across america people are losing their homes and the people on wall street who caused this problem and not just these two obviously there's a whole bunch more are you know nobody has even slapped their hands we've bailed them out repeatedly here that are ok libertarians and conservatives were not for a bailout that
call we don't call it that of all i could go on so here you got all these executives you've got dick fuld he was the c.e.o. of lehman brothers at the time he's still holding on to five hundred twenty nine million bucks that he made off with. three mega mansions and i'm curious politics are now. going to care about politics don't have a liberal i did not know you very much that well jimmy cayne c.e.o. i still don't want to have five hundred thirty nine million dollars jimmy cayne former c.e.o....
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Sep 16, 2013
09/13
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we've already looked at dick fuld.s become of the other protagonists of the andrea sorkin has been finding out where others are. >> jamie cane has stayed out of the banking business focusing instead on the contract ridge circuit. he is currently ranked number 23 in the world. in addition to his $25 million apartment at the plaza hotel in manhatt manhattan, he owns a home on the jersey shore and a home in boca raton. three months before lehman went bankrupt callan told cnbc the firm was headed in a right directs. >> we are in a great spot with this capital behind us with wind in our sales. >> after she left lehman in june 2008 she did a brief stint at credit suisse before leaving. she wrote an op ed in "the new york times." in 2007 countrywide ceo angela mezillo said his company wasn't going anywhere. >> there is no more of a chance of countrywide going bankrupt. >> three years later with countrywide having been purchased by bank of america, he paid out over $67 million to settle fraud and insider trading charges filed
we've already looked at dick fuld.s become of the other protagonists of the andrea sorkin has been finding out where others are. >> jamie cane has stayed out of the banking business focusing instead on the contract ridge circuit. he is currently ranked number 23 in the world. in addition to his $25 million apartment at the plaza hotel in manhatt manhattan, he owns a home on the jersey shore and a home in boca raton. three months before lehman went bankrupt callan told cnbc the firm was...
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Sep 16, 2013
09/13
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. >> dick fuld was a star on wall street. the longest running ceo of any firm. in 2007 he mounted a vicious campaign against short sellers that he said were trying to put lehman out of business. >> what i really want to do is i want to reach in, rip out their heart and eat it before they die. >> five years after lehman's collapse, fuld is chastened. he has a small consulting firm in manhattan, no high profile clients or none that are saying. one warns his tarnished reputation. he ran up legal bills into the millions of dollars, much of it paid for by the lehman estate. the d.o.j. and s.e.c. dropped their investigations after they concluded they didn't have enough evidence against him. fuld has kept a low profile. occasionally he's been seen dining at the four seasons with former colleagues and peers and he's been spotted on the weekends flying coach to one of his homes in florida. while he rode his lehman's stock from $1 billion to $56,000, he's not exactly poor. he has a greenwich mansion worth over $8 million and he sold his park avenue apartment and art for $
. >> dick fuld was a star on wall street. the longest running ceo of any firm. in 2007 he mounted a vicious campaign against short sellers that he said were trying to put lehman out of business. >> what i really want to do is i want to reach in, rip out their heart and eat it before they die. >> five years after lehman's collapse, fuld is chastened. he has a small consulting firm in manhattan, no high profile clients or none that are saying. one warns his tarnished reputation....