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Area Woman/Ex-Lehman Brothers CFO Receives Terrifying Phone Call In The Middle Of The Night

The voice on the other end you never want to hear!
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Remember Erin Callan? Was the chief financial officer at Lehman Brothers circa a time you really, really didn't want to be CFO of Lehman Brothers? Was unceremoniously fired in June 2008, did a brief stint at Credit Suisse, had a break down while working at the Swiss bank, went into hiding and married a firefighter, and, a few years back, wrote an op-ed for the Times in which she wrote about soul-sucking 20 years she spent on Wall Street? She's got a self-published book out today called Full Circle: A Memoir of Leaning In Too Far and the Journey Back, and while she confesses to still being pretty miffed at former bosses Dick Fuld and Joe Gregory, for making her do an ill-fated March 2008 conference call when she was "so new in her position that she barely had a grasp of Lehman's complex finances and mortgage-bond holdings," it sounds as though Fuld might get back on the Christmas card distribution list this year.

In addition to rebuilding her life and finding a kind of calm, Callan writes of another cathartic moment that came in January 2015. She got a phone call from someone she hadn't spoken to in more than six years. “Erin," a man's voice said, "it’s Dick Fuld.” Fuld had one important message to convey, Callan writes: He was sorry for having put her in that position, and he wanted her to know that what had happened back in 2008 wasn't her fault. Callan writes: "He said everything I had wanted to hear for so many years."

It's unclear if Fuld will be called on for babysitting duties-- Callan and her second husband now have a daughter-- but if he keeps it up, anything could happen.

Looking Back at Lehman's Collapse With the Woman Who Fell Farthest [Bloomberg]


Lehman Brothers Thought Fight To Stay Alive Was A Battle Of Good (Them) Versus Evil (Everyone Else)

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 went.

Remember When: Lehman Brothers Was In A Position To Tell Korea Development Bank To Suck It?

Those were the days. Related: Korea Development Bank Ends Talks For Stake in Lehman (September 10, 2008) Earlier: "The Bros Always Wins"