Comments on: Was It Dick Fuld’s Stupidity Or Flair For Fraud That ‘Cause Lehman To Bite The Big One? http://dealbreaker.com/2010/03/was-it-dick-fulds-stupidity-or-flair-for-fraud-that-cause-lehman-to-bite-the-big-one/ Wall Street Insider – Financial News, Headlines, Commentary and Analysis - Hedge Funds, Private Equity, Banks Fri, 10 Feb 2012 20:53:04 +0000 hourly 1 http://wordpress.org/?v=3.0.5 By: Anonymous http://dealbreaker.com/2010/03/was-it-dick-fulds-stupidity-or-flair-for-fraud-that-cause-lehman-to-bite-the-big-one/comment-page-1/#comment-271569 Anonymous Fri, 12 Mar 2010 17:45:11 +0000 http://dealbreaker.com/?p=16351#comment-271569 Plea stupidity Dick, you can't go to Club Fed for being intellectually challenged. Plea stupidity Dick, you can’t go to Club Fed for being intellectually challenged.

]]> By: Anonymous http://dealbreaker.com/2010/03/was-it-dick-fulds-stupidity-or-flair-for-fraud-that-cause-lehman-to-bite-the-big-one/comment-page-1/#comment-271561 Anonymous Fri, 12 Mar 2010 17:34:43 +0000 http://dealbreaker.com/?p=16351#comment-271561 it is a shame Steve Berkenfeld isn't going down. Knowing him , he probably cooperated fully with Examiner to avoid any problems. He would turn on anybody to save his skin. it is a shame Steve Berkenfeld isn’t going down. Knowing him , he probably cooperated fully with Examiner to avoid any problems. He would turn on anybody to save his skin.

]]> By: DBL alum http://dealbreaker.com/2010/03/was-it-dick-fulds-stupidity-or-flair-for-fraud-that-cause-lehman-to-bite-the-big-one/comment-page-1/#comment-271538 DBL alum Fri, 12 Mar 2010 16:40:13 +0000 http://dealbreaker.com/?p=16351#comment-271538 They will do voluntary compensation clawbacks. In 1991 a similar report came out on Drexel Burnham Lambert, and the group of top 200 exec's ran a spread sheet that showed, right or wrong they were going to spend min. $1 million each on legal defense, before fines, interest, restitution, etc. They ponied up $250 Million and settled. Now the "gross negligence" for Fuld means lots of dollars for lawsuits; Callan, Gregory, and anyones names on the 10-K certification, plus the Ernst partner will be paying big bucks. The Hamptons pad was nice Erin, better call the realtor. They will do voluntary compensation clawbacks.

In 1991 a similar report came out on Drexel Burnham Lambert, and the group of top 200 exec’s ran a spread sheet that showed, right or wrong they were going to spend min. $1 million each on legal defense, before fines, interest, restitution, etc.

They ponied up $250 Million and settled.

Now the “gross negligence” for Fuld means lots of dollars for lawsuits; Callan, Gregory, and anyones names on the 10-K certification, plus the Ernst partner will be paying big bucks.

The Hamptons pad was nice Erin, better call the realtor.

]]> By: R.D. http://dealbreaker.com/2010/03/was-it-dick-fulds-stupidity-or-flair-for-fraud-that-cause-lehman-to-bite-the-big-one/comment-page-1/#comment-271533 R.D. Fri, 12 Mar 2010 16:31:20 +0000 http://dealbreaker.com/?p=16351#comment-271533 Blame it on LEH mgmt multiple 2006/07 lobotomies. Blame it on LEH mgmt multiple 2006/07 lobotomies.

]]> By: Dick me- http://dealbreaker.com/2010/03/was-it-dick-fulds-stupidity-or-flair-for-fraud-that-cause-lehman-to-bite-the-big-one/comment-page-1/#comment-271498 Dick me- Fri, 12 Mar 2010 14:46:15 +0000 http://dealbreaker.com/?p=16351#comment-271498 @16 Well presented - you didn't need 3,000 pages either - hope you got a cut of the 38 large the gov't paid for the "report" @16 Well presented – you didn’t need 3,000 pages either – hope you got a cut of the 38 large the gov’t paid for the “report”

]]> By: Anonymous http://dealbreaker.com/2010/03/was-it-dick-fulds-stupidity-or-flair-for-fraud-that-cause-lehman-to-bite-the-big-one/comment-page-1/#comment-271493 Anonymous Fri, 12 Mar 2010 14:31:48 +0000 http://dealbreaker.com/?p=16351#comment-271493 I'm amazed this is coming as big shocking news to everyone. Lehman was doing quarter/month end repos with anybody and everybody going back to the Thai blowup 10+ years ago to "reduce" their balance sheet. Everybody in the firm knew this. It was always a huge priority. The financing piece was why Lehman switched from a calendar year-end to November, so it wouldn't run into the year-end financing logjam. The rating agencies and the SEC knew what was going on. The joke was repoing long term mortage positions over month end and actually calling them sales. This was going on for years. For Dick to claim he didn't know about this is laughable. Everyone knew. I’m amazed this is coming as big shocking news to everyone. Lehman was doing quarter/month end repos with anybody and everybody going back to the Thai blowup 10+ years ago to “reduce” their balance sheet. Everybody in the firm knew this. It was always a huge priority. The financing piece was why Lehman switched from a calendar year-end to November, so it wouldn’t run into the year-end financing logjam. The rating agencies and the SEC knew what was going on. The joke was repoing long term mortage positions over month end and actually calling them sales. This was going on for years. For Dick to claim he didn’t know about this is laughable. Everyone knew.

]]> By: Anonymous http://dealbreaker.com/2010/03/was-it-dick-fulds-stupidity-or-flair-for-fraud-that-cause-lehman-to-bite-the-big-one/comment-page-1/#comment-271489 Anonymous Fri, 12 Mar 2010 14:25:41 +0000 http://dealbreaker.com/?p=16351#comment-271489 Casual Friday's for Fuld, O'Meara, Callan, and Lowitt may now include a pinstriped suit with your own number on the back... Casual Friday’s for Fuld, O’Meara, Callan, and Lowitt may now include a pinstriped suit with your own number on the back…

]]> By: Anonymous http://dealbreaker.com/2010/03/was-it-dick-fulds-stupidity-or-flair-for-fraud-that-cause-lehman-to-bite-the-big-one/comment-page-1/#comment-271488 Anonymous Fri, 12 Mar 2010 14:20:46 +0000 http://dealbreaker.com/?p=16351#comment-271488 Looks like alot of ex-Lehman senior officers are in hot water now. Ian Lowitt's pic on Bloomberg will soon have a frown, let us see how long Barclays Capital keeps him around, any guesses? Looks like alot of ex-Lehman senior officers are in hot water now. Ian Lowitt’s pic on Bloomberg will soon have a frown, let us see how long Barclays Capital keeps him around, any guesses?

]]> By: Anonymous http://dealbreaker.com/2010/03/was-it-dick-fulds-stupidity-or-flair-for-fraud-that-cause-lehman-to-bite-the-big-one/comment-page-1/#comment-271487 Anonymous Fri, 12 Mar 2010 14:15:14 +0000 http://dealbreaker.com/?p=16351#comment-271487 What a Dick. What a Dick.

]]> By: Anonymous http://dealbreaker.com/2010/03/was-it-dick-fulds-stupidity-or-flair-for-fraud-that-cause-lehman-to-bite-the-big-one/comment-page-1/#comment-271486 Anonymous Fri, 12 Mar 2010 14:13:47 +0000 http://dealbreaker.com/?p=16351#comment-271486 Erin Callan will be hittin the spinning class all week, the stress this report will add....... Erin Callan will be hittin the spinning class all week, the stress this report will add…….

]]> By: StillNotNasser http://dealbreaker.com/2010/03/was-it-dick-fulds-stupidity-or-flair-for-fraud-that-cause-lehman-to-bite-the-big-one/comment-page-1/#comment-271485 StillNotNasser Fri, 12 Mar 2010 14:12:40 +0000 http://dealbreaker.com/?p=16351#comment-271485 So it wasn't all a naked shorting conspiracy that involved a magic fax machine? It wasn't the shorters at all, naked or clothed? We've been sold a bill of goods??? So it wasn’t all a naked shorting conspiracy that involved a magic fax machine? It wasn’t the shorters at all, naked or clothed?

We’ve been sold a bill of goods???

]]> By: Dick Fuld http://dealbreaker.com/2010/03/was-it-dick-fulds-stupidity-or-flair-for-fraud-that-cause-lehman-to-bite-the-big-one/comment-page-1/#comment-271479 Dick Fuld Fri, 12 Mar 2010 13:37:08 +0000 http://dealbreaker.com/?p=16351#comment-271479 these fuckers just dont understand accounting these fuckers just dont understand accounting

]]> By: Dick http://dealbreaker.com/2010/03/was-it-dick-fulds-stupidity-or-flair-for-fraud-that-cause-lehman-to-bite-the-big-one/comment-page-1/#comment-271475 Dick Fri, 12 Mar 2010 13:17:50 +0000 http://dealbreaker.com/?p=16351#comment-271475 I wonder if I can "Repo 105" my bunghole in exchange for cigarettes in the joint - - bunch o' Prison Bitchezz I wonder if I can “Repo 105″ my bunghole in exchange for cigarettes in the joint – - bunch o’ Prison Bitchezz

]]> By: Anonymous http://dealbreaker.com/2010/03/was-it-dick-fulds-stupidity-or-flair-for-fraud-that-cause-lehman-to-bite-the-big-one/comment-page-1/#comment-271436 Anonymous Fri, 12 Mar 2010 05:27:22 +0000 http://dealbreaker.com/?p=16351#comment-271436 Are these fuckwits looking at jail times? I could use some company. -Bernie Are these fuckwits looking at jail times? I could use some company.

-Bernie

]]> By: Bernie http://dealbreaker.com/2010/03/was-it-dick-fulds-stupidity-or-flair-for-fraud-that-cause-lehman-to-bite-the-big-one/comment-page-1/#comment-271434 Bernie Fri, 12 Mar 2010 05:25:10 +0000 http://dealbreaker.com/?p=16351#comment-271434 Are these fuckwits looking at jail time? I could use some company. Are these fuckwits looking at jail time? I could use some company.

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