Lehman Brothers

  • A million bucks for each of you!


    Bonus Watch ’14: Formerly Bankrupt Former Investment Banks

    As Dick Fuld would say “The bros always wins!”

    / Mar 3, 2015 at 12:37 PM


    Lehman Brothers Will Be Making Money Until At Least 2018


    / Feb 3, 2015 at 1:11 PM
  • Lehman Brothers


    Balls On Former Lehman-cum-Barclays Employee Just About The Size You’d Expect Of Someone Demanding Two $84 Million Bonuses For ’08

    In fairness, no one has officially measured and reported the size of Jonathan Hoffman’s testicles. But you’d have to figure they’re pretty big to hugely big based on the fact that he’s put forth the argument that: Barclays paid him the $84 million he was owed by Lehman Brothers for his work in 2008, which […]

    / Dec 9, 2014 at 4:30 PM
  • Ready to party


    Dick Fuld Ready To Hit The Party Circuit Again

    After keeping a fairly low profile over the past 6 years, following the whole implosion of Lehman Brothers situation, Fuld announced Monday night that he’s ready to rock. Text him the details of this weekend’s rager and he’s there, assuming the ole ball and chain doesn’t have other ideas.

    / Nov 12, 2014 at 12:14 PM
  • Banks

    Lehman Trustee Not Sure How $4 Billion In Barclays Pocket Adds Up To $0

    The corpse of Lehman Brothers wants the Second Circuit Court of Appeals to take a really close look at the part of its bankruptcy that say “no cash” should go to Barclays when it bought Lehman’s brokerage. Because, you know, their honors this month said that Barclays could have $4 billion in cash from the […]

    / Aug 21, 2014 at 5:07 PM
  • News

    Ernst & Young Can’t Believe Its Luck

    Re: Getting off scot-free for telling Lehman Brothers that it could just write all of those things off. So it’s pinching itself, basically appealing the miraculous verdict so that no one can take it away.

    / Aug 13, 2014 at 6:02 PM
  • Banks

    Lehman Brothers Still A Totally Viable Business

    The corpse of the investment bank has made $8.3 billion more than it expected since it stopped being an investment bank three years and change ago.

    / Aug 5, 2014 at 10:55 AM
  • Hedge Funds

    Who Wants A 20% Stake In A Fabulously Successful Hedge Fund?

    Nobody, apparently.

    / May 22, 2014 at 10:56 AM
  • lehmanbrothers


    Hedge Funds Aren’t Going To Say They’re Thrilled Lehman Bit The Big One But…

    A small group of firms that waded into the morass in the aftermath of the financial crisis, including Paulson & Co., King Street Capital Management LP, Varde Partners Inc., Halcyon Asset Management LLC and Solus Alternative Asset Management LP have made billions of dollars trading in the debt. As claims are being paid out, often […]

    / May 13, 2014 at 3:27 PM
  • Banks

    Former Bank Gets Extra $3.7 Billion Or So To Play Around With

    Lehman Brothers was perhaps not as extremely well-capitalized or strongly liquid as Dick Fuld claimed, but its corpse is looking pretty well-capitalized today.

    / Feb 20, 2014 at 12:55 PM
  • sacfleeces-260x194


    Your $1,500 Will Now Get You Much More Than Four Hedge Fund Fleeces

    Earlier this week, an anonymous veteran of the hedge fund world took to eBay to list the fleeces he’d picked up as an employee of several hedge funds that either have been or will soon be consigned to the scrap heap of corporate history: SAC Capital, SAC subsidiary Sigma Capital, Quadrum Capital, and Stratix. Seller […]

    / Jan 8, 2014 at 4:42 PM
  • joegregorylehmanbrothers


    Joe Gregory Needs Your Help

    Remember Joe Gregory? Former Lehman Brothers president? Used to commute to the office from Long Island via helicopter? Was publicly dressed down by Dick Fuld on at least one occasion for leaving the house wearing a hideous green suit? He voluntarily resigned in June 2008, and since he technically wasn’t on site when the firm […]

    / Sep 18, 2013 at 2:05 PM
  • brothers_1480845c


    Last Hours As Lehman Brothers Were A Time For Drinking, Smoking, Watching In Amazement As Pairs Of Shoes Emerged From Under Women’s Desks Like Out Of A Clown Car

    “Sometime around Sunday, 4 o’clock or 5 o’clock, we started getting e-mails saying the deal is dead: no Barclays. We’re gonna file. And that’s where the panic reached a peak. If the bank was going to file for bankruptcy, we wouldn’t be able to enter the building on Monday morning. That’s really the reason everybody […]

    / Sep 13, 2013 at 4:36 PM
  • Banks

    Uncooperative Laws Kept SEC Off Dick Fuld’s Back

    Prosecutors got bored investigating Lehman Brothers pretty fast, but not so the SEC, which persisted until last year in trying to come up with something, anything to throw at Dick Fuld, at great personal risk and to no avail. Some (Mary Schapiro, for one) are still puzzled by this. He has George Canellos to thank.

    / Sep 9, 2013 at 6:58 PM
  • Google image search for "zombie"


    Actually Lehman’s Bankruptcy Worked Out Well For A Lot Of People

    Bloomberg has a fantastic article today about how Lehman’s decaying corpse is suing a bunch of former clients, many of them wee and sympathetic nonprofits, who hosed Lehman when they terminated swaps in September 2008. Some of these lawsuits turn on disputes over when those clients, or their consultants, should have valued the swaps for […]

    / May 14, 2013 at 3:06 PM
  • What could possibly etc.


    Citi Didn’t Stress Too Much About That Whole Lehman Bankruptcy Thing

    Yesterday Citi sued Barclays over an indemnity that Barclays gave Citi during the collapse of Lehman Brothers, and while, yes, the lawsuit is boring in the way that only lawsuits over indemnities can be, I’m nonetheless going to tell you about it under the heading “laugh at Citi doing stupid stuff.” The stupid stuff here […]

    / May 7, 2013 at 5:16 PM
  • News

    Australian Unit Apparently To Blame For Lehman Brothers Bankruptcy

    Creditors of the former investment bank in the U.S. and Europe will get everything back. Creditors in Australia are not so lucky.

    / Apr 15, 2013 at 3:34 PM
  • News

    Do Not Feed The Consultant

    The prospect of physical violence does not rate on the list of risks inherent in hiring Dick Fuld as a consultant.

    / Mar 26, 2013 at 3:18 PM
  • erin-callan


    Erin Callan Is Perfectly Happy, Damnit

    The former Lehman CFO is mystified that her recent New York Times column would make people think she was unhappy.

    / Mar 15, 2013 at 3:10 PM
  • ritz_carlton_kapalua_maui_picture


    Who Wants To Buy Lehman Brothers’ Maui Resort?

    The Bros holding company is looking to sell its Ritz-Carlton Kapalua, if you happen to be the market and want to do their creditors a solid. (They also need a broker, if anyone’s got a license.) The place comes with 463 rooms, six restaurants, two golf courses, and a spa; if you act fast, they’ll […]

    / Mar 5, 2013 at 6:04 PM
  • shamu


    London Whale Also Not Responsible For Those Last 10 Pounds You Haven’t Lost

    There are a lot of things that, if you wanted to, you could legitimately blame on former JP Morgan employee London P. Whale. The $6.2 billion trading loss the bank incurred over the summer. Ina Drew getting fired. This awkward phone call. Some stuff you can’t pin on him, though many have tried: male pattern baldness, the bombing of Pearl Harbor, Apple Maps, Lehman Brothers’ bankruptcy, tempting as it may be.

    / Feb 28, 2013 at 1:32 PM
  • dickfuld


    Prominent Former Bank Still Wheeling and Dealing

    Lehman Brothers’ former Manhattan headquarters is now unmistakably the New York base of an even more discredited (if still solvent) bank. But the bankrupt if lucrative shell of a company still owns a big midtown building—one that it took over two years after it filed for bankruptcy. Now, it’s unloading it for a song.

    / Feb 12, 2013 at 4:54 PM
  • dick_fuld.03

    The Bros Always Wins

    Lehman Brothers Tops Failed Investment Bank League Tables

    The historic Lehman Brothers bankruptcy has hit another milestone: $2 billion in fees paid to professionals. In a Thursday filing with U.S. Bankruptcy Court in Manhattan, Lehman said it has spent $160.8 million in fees since exiting from bankruptcy in March. Added to the $1.9 billion it incurred during its 42 months in bankruptcy, the […]

    / Feb 1, 2013 at 5:02 PM
  • News

    Some Lehman Brothers Alums Doing Demonstrably Better Than Others

    Joe Gregory has been forced to put his Long Island-chic manse on the market. Dick Fuld’s been pounding the pavement for months with nothing to show for it.  Bella is still dead. Not a lot to celebrate and yet some people have managed to do pretty okay for themselves despite having spent time at 745 7th Avenue. Erin Callan, as may have heard, is happily married to firefighter Anthony Montella and living in a $3.9 million house in the Hamptons and Evelyn Stevens, who actually worked at another firm before leaving Wall Street but should know that if you so much as set foot in the lobby of the building, you’ll be branded a Lehman Brother or Sister for life, just competed in her first Olympics and no longer counts herself among financial services employees who spend their days fantasizing about a life that doesn’t so closely resemble hell.

    The 5-foot-5 (1.7-meter) Stevens said she’s using savings from banking bonuses to “cushion” the blow of lower earnings. She began her career as an investment-banking analyst at Lehman Brothers Inc., leaving in 2007 before the bank collapsed. “I was able to save a lot of my bonuses,” Stevens said. “I don’t have to survive on a $10,000 or $8,000 purse from cycling. If I hadn’t been in investment banking, I wouldn’t have been able to be at the Olympics.” She was 24th in yesterday’s Olympic women’s road race, finishing among a group including teammate Shelley Olds that was 27 seconds behind gold-medal winner Marianne Voss of the Netherlands. There were 66 riders at the start.

    While there’s a “big discrepancy” from what she once earned, Stevens said her quality of life has improved. After leaving behind a 90-hour working week in banking, she lives in Girona, Spain during the European racing season and Boulder, Colorado. “In New York there’s pressure, and it’s kind of negative, everyone was stressed,” Stevens, dressed in U.S. team tracksuit and lycra three-quarter length pants at the London Olympic Park, said July 27. “I don’t get so much money now but my quality of living has gone up.”

    Ex-Lehman Banker Parlays Bonuses Into Cycling Berth At Olympics [Bloomberg]

    / Jul 30, 2012 at 3:58 PM
  • News

    Sleep Where Joe Gregory Hath Slept

    The former Lehman Brothers chief operating officer and close personal friend of Dick Fuld has reportedly put his Lloyd Harbor. For $22 million you get a 15,000-square-foot main house, a 6,000-square-foot guest house, nine acres, 6 bedrooms, 8.5 baths, a 7 car garage, what appears to be a duplex apartment for shoes, and a little […]

    / Jul 25, 2012 at 4:24 PM
  • News

    Dick Fuld Attends Hockey Game Without Getting Into Physical Altercation

    One tale many love to tell about Richard S. Fuld, besides the one involving him destroying an 158 year-old institution, is that of the time he got into a fistfight at his son’s hockey game, with a parent from the opposing team. Though there have been many stories over the years of adults who lack impulse control throwing down at their children’s sporting events, perhaps people were fascinated by the fact that the the CEO of a public company was unable to reason that punching someone in the face at a Peewee hockey game = bad, keeping your hands to yourself = good.  On that note, one sports fan reports that Fuld has since matured, and realizing his own limitations, now travels with protection (for himself/spectators in his section).

    “Was at the Rangers/Devils game last night sitting a few rows behind Dick Fuld and his wife. He was with two goons who were clearly his body guards, one sitting next to him in a tan jacket and the other one standing behind him in black. Fuld was wearing a suit…I guess to try and look like he actually has a job he was coming from befoe the game.”

    / May 24, 2012 at 7:06 PM
  • richardfuld


    Dick Fuld’s Weekend Is Looking Up

    U.S. Securities and Exchange Commission investigators have concluded their probe of possible financial fraud at Lehman Brothers Holdings Inc. and determined that they will probably not recommend any enforcement action against the firm or its former executives, according to an excerpt of an internal agency memo. Under a heading reading “Activity in the Last Four Weeks,” […]

    / May 24, 2012 at 3:56 PM
  • News

    Dick Fuld Never Stops Pounding The Pavement

    Last month it was lunch with Alan Schwartz, today this:

    / May 14, 2012 at 3:38 PM

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