By: George @ 9:31 AM - EST
Chairman of bankrupt Lehman Brothers, Richard Fuld was knocked out cold September 2st while he was running on a tread mill at the Lehman Brothers Gym by unknown man who was lifting weights.
Vanity Fair contributor Vicki Ward said, “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 also said on the Oct. 6 Power Lunch. “I didn’t think he was contrite at all, I thought he was arrogant.”
“I thought he was shameless,” Ward said about Fuld’s testimony to Congress. “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.”
Most people are likely rooting for the unnamed weight lifter who punched disgraced Lehman executive Fuld but the joke is on us. Yesterday Richard Fuld told Congress that he took home $300 million in pay and bonuses over the past eight years.
Records provided to Congress by Lehman Brothers show Fuld took home $480 million.
Fuld and other Wall Street executives made short term decisions that created the illusion of profit in order to take compensation from investors pockets.
Video: Vicki Ward “I would have punched him too.”
Video: Chairman Waxman (D-CA) grills Fuld on his compensation
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