As some of you may recall, a month after Lehman Brothers went under, the House Committee on Oversight and Government Reform released an interesting email Dick Fuld had sent to LEH vice-chairman Thomas Russo on Saturday, April 12, 2008, circa midnight. Dick had just come back from a dinner with Hank Paulson and was so excited to relay the details he couldn’t wait ’til the next day to get in touch with Russo, who he apparently viewed as his “teacher.” Fuld said his key “takeaways” were that the government loved Lehman, that Paulson wanted to “kill the bad hedge funds” (like those diabolical shorts Fuld knew were to blame for his problems), and that while the then Treasury Secretary appeared to have a “worried view” of Merrill Lynch, Dick got the sense that Paulson thought Lehman was in terrific shape. Per the bankruptcy documents put online last week, here’s how the rest of the conversation between Fuld and his Sensei–the wisest man Fuld had ever met–went.

Comments (141)

  1. Posted by Wall St. Dude | April 30, 2012 at 7:05 PM

    Error 2147221233? Did this guy jump ship before fuld responded?

  2. Posted by Jesus | April 30, 2012 at 9:35 PM

    In a just world Dick Fuld should be spread-eagled and one by one every creditor should get to kick him in the balls.

  3. Posted by Lazy Lightning | April 30, 2012 at 10:55 PM

    LOL LMAO. Glad 2 hear you liked our dinner FWIW, u douche. Sukkas!
    your BFF
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  4. Posted by Lowly Assistant | April 30, 2012 at 11:10 PM

    If you think that this is hot, you should've seen the pager codes sent to Tom via Dick. A little "143," "823," and "42."

  5. Posted by Guest | May 1, 2012 at 10:12 AM

    A place where our children will be proud?

    Maybe just start with a place where assets cover liabilities.

  6. Posted by Quimdung | May 1, 2012 at 10:32 AM

    that's the phone # for equities in dallas

  7. Posted by bittergreen | May 1, 2012 at 11:23 AM

    Dick Fuld's email address was 'lbexec1'? Were 'dick.fuld' or 'ceo' already taken?

  8. Posted by Guest | May 1, 2012 at 12:54 PM

    Yes

    Dick Fuld
    Analyst, Prime Brokerage

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