steve weiss, you worked at lehman brothers until i believe 2002. >> right. >> you know dick fuld or knew well up until that point. perhaps after. what are your thoughts today? >> i have talked to dick after. i haven't talked to him in a couple of years. he called me one of his guys, there was a fairly tight circle, two levels of it that worked with dick and carried out what he was doing. i think dick is an honest guy. i think that maybe what happened to him is that the firm got so big, so quickly, that things got away from him. he was after all, one of the greatest risk managers on the street. he was a trader. but then it's sometimes good to be king and things get away from you. having spoke ton a board member on the board of morgan stanley at the time they were going through their issues, they were, they had some, a lot of the same issues. they had no idea according to this individual, what they owned. what their liabilities were. the government stepped in. look at vikram pandit. he came from running a mediocre hedge fund to running the biggest bank net world at the time. he didn't do t

dick fuld's murky investment secret. the former ceo makes his first public appearance since the collapse, and charlie gasparino on the scene watch out, dick. >>> raising alarm over the taliban five, new concerns the former gitmo prisoners will return to terror now. more "money" coming up. . melissa: very nervous dick fuld speaking for the first time since lehman's implosion in 2008. why was he so nervous? might be because charlie gasparino's story about latest murky deal. charlie joins us with the exclusive details. charlie i heard he shook your hand. >> yeah, it was kind of, he came out after the speech today at this microcap conference in midtown manhattan he had a scowl on his face and believe it or not, when he saw me he smiled shook his head and we shook hands and he jumped in his car, actually he fell and jumped into his car. you got the feeling today by watching him speak it was a pretty rough day for him. the first time he spoke since the lehman brothers collapse in 2008, and, you know, as i predicted early on tod

dick fuld made his wall street return yesterday, remember? charlie gasparino chasing him outside a hotel in midtown. how 24 hours later is wall street digesting what he said at a penny stock conference? charlie gasparino was there yesterday, he's here today with the fallout, exclusive details next. >>> and trouble in the skies, fox business' scathing report on the faa's hiring practices and revealing test responses for certain people to help them cheat? this is finally a strong statement from the union representing thousands of air traffic controllers across the u.s. adam shapiro has the latest, coming up. . liz: pumping the brakes on truckers today! bank of america downgrading the name us that see on the screen. okay, why are they down? at some points, 5%. why are they down that much? we have a surge in oil, 4% to the upside, going to hurt the truckers, the ones not switching over to natural gas, we know there are some that do, not in great enough numbers to protect these names at the moment. >>> yesterday we had dick fuld who used to run le

and this one is my all time fave, call it the second coming dick fuld, this is his first speech sincen brothers lehmanollapse -- brothers's collapse. o your company? ask our friend from washington, a former member of the financial crisis inquiry commission, who on many occasions, interviewed mr. fuld. firms indicates why some thrive while others fail. i am not saying that dick fuld is making a comeback, but what do you make of it? guest: if i were an investor, at least i would ask some questions. itselfbrothers destroyed in a fairly spectacular way, and made mistakes that a lot of other firms didn't make, so i think there is a lot to learn from the way that lehman went down. the thing that investors need to es is, what did dick fuld learn this time around? couple of give you a lessons, i would say to listen to your risk manager. there were serious problems in the market, the risk officer was regularly sending signals, we've got a problem here. she was simply disregarded, and and somebody else unqualified as a risk officer was put in her place. the question for an investor is, uld list

hey, we saw it with dick fuld today coming back out.ve both of you, paul, phil, thank you so much. david? >> thank you. david: well, not buying renewable energy, exxon ceo mincing no words about why he is not putting carbon haters on his board. >>> and dÉjÀ vu allover again, one -- all over again, one big money investor says subprime very different now and could be a good bet. don't go anywhere, we'll be right back. if you're an adult with type 2 diabetes and your a1c is not at goal with certain diabetes pills or daily insulin, your doctor may be talking about adding medication to help lower your a1c. ask your doctor if adding once-a-week tanzeum is right for you. once-a-week tanzeum is an injectable prescription medicine that may improve blood sugar in adults with type 2 diabetes, along with diet and exercise. once-a-week tanzeum works by helping your body release its own natural insulin when it's needed. tanzeum is not recommended as the first medicine to treat diabetes or in people with severe stomach or intestinal problems. tanzeum

erik: we know what dick fuld is doing.ill: the used to have his attorney who would take all of the calls and then say no he will not talk to you. his attorney retired so now he has no one playing that role. , he made your piece half $1 billion in about seven , if this guy has so much money, why is he going to come out again? why not just buy an island somewhere and just without the rest of your life? bill: i think this is about redemption. he was viewed as the villain of this crisis. the man who caused it all and i think he is trying to -- erik: the most important question of all for these people. for folks like dick fuld who were near or at the top of wall street, it is an existential question, is there redemption? i was looking at the list of the former members of lehman brothers executive committee and i could find only two who have kind of found redemption on wall street are you michael gelfand now runs fixed income at millennium. not a bad place to be. tom russo is the general counsel at aig. everybody else has been s

dick fuld's reemergence. the former lehman brothers ceo made his first public address and years in new york city today. bill wrote a piece about where the main players in the financial crisis are today. he spoke earlier with erik schatzker in betty liu. he hads able to surmise just advised something called the national stock exchange, a small penny stock -- less than 1% volume stock exchange based in new jersey. some clients on buying that and then he went to china. i think this is a business thing. about how your piece you were trying to find these guys. talked -- >> talk to me in 2008. >> you cannot find dick fuld at all. .> we know what he's doing >> he is to have his attorney who would take all the calls and then say no, he won't talk to you. his attorney retired and so now, he's got no one playing that role. made half piece, he $1 billion, right? in about seven years time. y is he going to come out again? why not just go away, by an island somewhere and live out the rest of your life? >> this is about re

charlie gasparino was the only reporter to attempt to confront dick fuld today. why? there's more that dick isn't sharing with the public. >> i don't know if we have the video of him shaking my hand. he did shake my hand leaving the conference. the microcap conference that he he was at. liz: but he didn't answer the question. >> he didn't. dick fuld can't talk too much about lehman brothers. a story about a suspicious deal he was involved. in a penny stock deal or small-cap stock deal. i looked at his brokerage records, his brokerage records say pending investigations continue into his role in lehman's collapse by the securities and exchange commission, by the new jersey department of securities. he still faces some potential regulatory issue, and when you face a regulatory issue like that, he also has civil lawsuits outstanding. you have a problem. you cannot say anything. he went up there, made a few benign remarks about lehman. he said it wasn't bankruptcy. it wasn't bankrupt in the typical sense, which is his theme since 2008. we suffered from a short-term liquidit

i like it. >>> wall street was riveted when dick fuld spoke after a collapse in 2008.ding volume dropped 13% as he began his speech. most wanted to hear about lehman. what they got was a whole lot else. take a listen. >> i haven't done this in a while. forget this. closer to it, i'd swallow it. there is no inflation at all. except -- except for food and some of the key consumer goods that people need. all of you, please continue to eat. desperate to regain the dominance. political dissertation. we need new leadership. >> the one thing he didn't say that everyone was waiting to hear, i'm sorry. not that. dan. >> i don't think a speech like that, that was a goofy clip we ran there of him. i'm sure it was somewhat substantive. i don't think it's the stuff that re-instills faith in american people and large financial institutions. >> those were tragic times. i was selling bear stearns. nobody knew what was going on. he could have been uncomfortable. i don't want to toss him a bone. he looked like he was uncomfortable in front of that podium. he looked like he was uncomfort

was lehman's bankruptcy just the beginning for dick fuld?no had a chance to quite literally bump into the ex-ceo. see how that went, after this. . neil: all right, charlie gasparino trying to talk to dick fuld today, the man many say caused the lehman brothers collapse. charlie you're reporting he's not doing a lot of good right now and unanswered issues right now what happened? >> we should point out dick fuld is coming out for the first time since 2008. neil: why now? >> 6+ years, the statute of limitations on potential charges against him for any alleged possible improprieties and how he managed lehman brothers is coming to an end, and might not face regulatory scrutiny. he's itching to say something, he spoke at microcap conference. what's interesting is he didn't say much about lehman. he had bland remarks about it, but didn't say much. why is that? if you look at my report on foxbusiness.com today i discuss what he's been doing since he left lehman involved in a lot of sketchy risky deals including one deal that blew up, and one of the

dick fuld now breaking his silence. in fact he just gave his first public speech since 2008 just moments ago in new york. our kate kelly is there and she has the highlights for us. >>> also this guy is never afraid of sounding off. jpmorgan ceo jamie dimon calling out investors saying they're lazy. what is behind that? and is he right? we'll debate. [ male announcer ] legalzoom has helped start over 1 million businesses. if you have a business idea, we have a personalized legal solution that's right for you. with easy step-by-step guidance, we're here to help you turn your dream into a reality. start your business today with legalzoom. don't just visit new york. visit tripadvisor new york. with millions of reviews and the best hotel prices... book your next trip at tripadvisor.com today. >>> welcome back to "power lunch." gopro introducing a six camera device. sharsz shares are down 10% this year but up 6% in just one week. google is set to put a buy button. they're also launching android pay. >>> sirius xm facing a cla

dick fuld is now a player in the penny stock market.s gone from lehman to penny stocks and another seven years. >> i can see you standing in the street. reporter: we actually did ambush him. fox has tape of him we should be ready to roll any minute now. might even have it right now. we are going to try to get him coming out. i will tell you this. i have no personal animus against dick fuld. we have a very cordial relationship. as i was writing back in 2008 maybe he will turn around and say something to me. i will ask him. >> right there in new york city. thank you very much. white house press secretary josh earnest was asked this morning how the administration will fight basis. his response. >> or strategies to support the security forces and doing well proven not do for them. the united states is prepared to train them come equipped and then back them on the battlefield with coalition military airpower if they take the fight to isil in their own country. united states will not be responsible inside of iraq. stuart: we are not responsib

dick fuld's is back in the spotlight.s become the poster child for excessive risk-taking on wall street. what does he have to say for himself now? olivia sterns joins me now with more on this. olivia: we all wanted to hear what he was going to say about lehman brothers. got -- he how he spoke about lehman's decision to go from being a fixed income trading to a universal investment bank. he spoke about what he thought made lehman brothers one of the great wall street banks and he said the key differentiator was the culture. he said people talk about lehman brothers did not have adequate risk management. had 27,000 risk managers in the form of employees because all of my employees held a stock in one way or another and acted like shareholders. please later said respect the fact that i don't want to talk about lehman brothers but finished up by saying lehman brothers was not bankrupt in september of 2008. mark: why is he saying this now? olivia: great question. why does you suddenly want to go public talking at a penny stock

you think you're dick fuld now. comments from yesterday since the financial crisis. anyone at lehman brothers deserves blames for that being the biggest bankruptcy in u.s. history. we live in a pick and choose world. choose choose choose. but at bedtime? ...why settle for this? enter sleep number... don't miss the memorial day special edition mattress with sleepiq technology. sleepiq tells you how well you slept and what adjustments you can make. you like the bed soft. he's more hardcore. so your sleep goes from good to great to wow! now we can all choose amazing sleep, only at a sleep number store. save $500 on the memorial day special edition mattress with sleepiq. ends sunday! know better sleep with sleep number. hey, can i help you? yeah, we're interested in the iphone. we promised one to beth for her birthday. you know mobile share value ans now include rollover data, so the data you don't use this month rolls over to the next month. wow, even better. so what are you gonna do with your old phone? i'm giving it

coming up, dick fuld breaks his silence, the former head of lehman brothers speaking publicly for the tim since his firm's collapse in 2008. you'll hear him live. >>> buyer beware, we talk to a fund manage another says stay away from that sector. >>> and expectations of broadcom's big deal today could be one reason that dr. j has been buying that name. who he thinks will be the next chip to fall. see you at the top of the hour. dick fuld live during the halftime report, looking forward to that. >> google developer conference also today in san francisco. mark bergen covers the company for re/code and joins us now. mark? >> hey, all eyes are on the next version of android and virtual reality here at google i/o. and google still needs to prove he it keep innovating. android dominates the market would wod worldwide. 78% of smartphones. but developers like these earn more money with apple. on virtual reality, google risks losing to rival like facebook. google's approach is to take vr mass market. a $20 cardboard headset. but connecting people with more advanced devices like occulus rift. a

pimm: dick fuld has been rarely seen for seven years.r lehman brothers chief executive has been blamed for the investment bank's collapse. fuld is speaking today and we have details. stephanie: what is behind the glut of new tv shows this year? there are hundreds of them and not enough time or viewers to watch. pimm: good afternoon. i am pimm fox. stephanie: i am stephanie ruhle. we're going to get you started on a look at the markets.

. >> ryan i'm going to get to senator johnson's lego comments in a moment but, first, dick fuld whoseer of the financial crisis. he's talking about income inequality. are we seeing a shift here? >> yeah i think he sees some of what's going on and he wants to kind of you know embrace a little bit of that as he's trying to kind of make a resurrection. you know at the same time i'm sure he's gone through a lot of kind, you know psychological suffering over the last couple of years as he was toppled from his perch as one of the top capitalists in the world. you know and going through that probably helps him find a little bit of empathy for people who people he otherwise simply wouldn't have seen in his previous life. and i think one thing is probably is right. i agree with you on trickle down. if it stays all at the top, you know, they are going to lose. you know rks people have seen all the kwans in the recovery go to the very top and that's why you're seeing all of this frustration that's being channeled into the minimum wage movement and other efforts around inequality. >> joan are we

hat into the crowded gop ring for president and a speech to watch today former lehman brothers ceo dick fuld is expected to give his first public address since the financial crisis. he's the luncheon keynote speaker at a conference in new york. he now has a financial advisory firm. he hired some guy, some reputable guy with a big reputation to come. so it's been kind of nine years since he's been around. >> we're going to talk about this in the chairs a little later. >> well you still correspond with this guy. >> i don't. i would like to. i have corresponded one way but not the other way. >> i saw him somewhere. maybe it was the time when we went on our date. i saw him lurking in the shadows or where were we? remember when we when on our date to see boardwalk empire? >> he was somewhere like that. >> was it robin hood a few years ago? >> i don't think so but i saw him and i said high to to him and he said hi. >> he's a good man. >> why aren't you corresponding with him? >> i would like to. >> he's not taking your calls? >> he's not taking my calls. >> well, you wrote a lot of stuff about too

i was trying to figure out why dick fuld wants to make his big reappearance at a penny stock conference york post's take on it, the guerrilla in the jungle. -- the guerrilla back in the jungle -- the goldrilla back in the jungle. erik: he spoke at a college that is not the same thing as getting up in front of the podium and talking to a bunch of investors. is there redemption after the financial crisis? will be back. ♪ olivia: google's developers congress kicks off in san francisco. you are looking at the bay bridge. in previous years this conference as seen larry page hold an impromptu q and a session. what can we expect? who better to ask than cory johnson? what are you expecting today? cory: you can see people lining up. the doors to not open for another 45 minutes. the big event the differences between that big mobile operating system apple and google. a new version of their operating system, a new photo app that spun off of google plus, some iterations on their car software , plans for a potential cardboard virtual-reality device. when you compare google to apple, it is like compar

. >> with dick fuld breaking his silence yesterday in a strange, took us all back to the crisis time,e best shape? structurally? >> structurally? i think the two brokers have done the most to realign their funding mix. that's probably the most significant. all of them made very significant strides in terms of improving capital levels lowering costs and improving liquidity positions. >> what about the 5,000 jobs going at jpmorgan? is there a restructuring story? i appreciate that is a small number to the total work force but could that counteract the negative earnings revisions you talk about there? >> specifically for jpmorgan that is a small slice but part of a broader cost containment strategy. what you are seeing at jpmorgan is what you are seeing from a lot of institutions. as technology enabled the consumer to better self-service for day-to-day transactions, it eliminates a lot of need to maintain the teleforce they have. >> i walk down the high street main street there are big banks in big buildings with nobody in them. maybe five or six members of staff and one or two queueing

you can give them that. >> kevin, i'd love to know now, given what dick fuld is doing in some of hisd getting into real estate would you give money to the guy now? >> yaees, i would. he was a genius at what he did. you got to remember the peak and growth and power lehman had in the fixed income market. >> we know how that story ended. >> i understand that. but why does -- why is it right that one firm is given life and another isn't? why aren't they all let to go to the lehman extreme, let them all collapse and be built up from the protein that's left. why is it that lehman wasn't given the handout from the government and others were? there was no question goldman sachs should have faced liquidity crisis if it wasn't going to get bailed out. something still stinks about it. >> i'm surprised you used the "genius" term. why if you are singling him out why you are as a paradigm of that era. >> i'm just saying he was dealt with unfairly. i would have loved to have heard from him today three things that either he would have done differently or we should have done differently. because, kel