Knock Out: CNBC Confirms Lehman CEO Punched at Gym

Business and Media ^ | 10/06/08 | Jeff Poor

[misterrob]

Network verifies reports Richard Fuld was attacked for financial institution's bankruptcy.

It seems anxiety from the financial crisis is reaching new highs, but the tipping point for one individual came at the Lehman Brothers gym in the midst of the company’s collapse.

While former Lehman CEO Richard Fuld was testifying before the House Oversight Committee Oct. 6, CNBC reported he had been punched in the face at the Lehman Brothers gym after it was announced the firm was going bankrupt. CNBC and Vanity Fair contributor Vicki Ward said Fuld was attacked at the gym on a Sunday following the bankruptcy.

“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 said on the Oct. 6 “Power Lunch.” “I didn’t think he was contrite at all, I thought he was arrogant.”

Ward confirmed previous reports about the incident that reportedly occurred Sept. 21 and said the information came from “two very senior sources.”

“From two very senior sources – one incredibly senior source – that he went to the gym after … Lehman was announced as going under. He was on a treadmill with a heart monitor on. Someone was in the corner, pumping iron and he walked over and he knocked him out cold. And frankly after having watched this, I’d have done the same too.”

Ward determined Fuld deserved the beating based on his testimony before the committee.

“I thought he was shameless,” Ward said. “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.”

Lehman Brothers filed for bankruptcy in September 2008 and its assets were later snatched up by the British bank Barclays for $1.35 billion, which included Lehman’s Midtown Manhattan office tower with a $960 million price tag.

[Thumper1960]

ooooooooooooooooooo..........

That hurt soooo much. Such a cut!

(whatever)

[Czar]

"Don't forget Bernanke, Greenspan, Paulson and each and every member of Congress in both parties who supported the bailout."

I won't forget any of them. Nor will I forget the corrupt scum responsible for what led up to what I call the "Wall Street Bailout and Congressional Coverup Act of 2008".

[freebilly]

Wall Street— the current intersection of knee jerks from both the left and the right side of the political spectrum....

[freebilly]

Make that:

Wall Street— the current intersection of knee jerks from both the left and the right side of the body politic....

[aNYCguy]

there isn't a jury in this country that would find him guilty.....

You've obviously learned everything you know from TV movies. What a heartwarming scene it will be when the scrappy jurors disregard his confession and acquit him!

there are millions of Americans that will gladly donate to his defense fund.....

Lol, sir, I say lol! Have you donated yet?

[freebilly]

Fox_Mulder77, like many of the embittered posting on this thread, doesn't have a firm grasp of reality. What's interesting to me is how the reactionaries on the right and the radicals on the left are both applauding Fuld's smackdown as though it was the right thing to do or has any real significance.

The easiest thing in the world to do is to cold-cock someone. I'd rather have someone figure out how to get our $700b back from Congress....

[ItisaReligionofPeace]

Cool, so this is what the seeds of a communist revolution looks like.

[ovrtaxt]

I guess Main Street has decided to make Wall Street it’s bitch. lol

[ItisaReligionofPeace]

What did you say Comrade? (pig)

[ovrtaxt]

HA!! Thanks for that! :)

[VictoryGal]

> Cool, so this is what the seeds of a communist revolution looks like.

Hm. I hope you’re not saying what I think you’re saying.

It is fully capitalist to want to punish thieves.

[Thumper1960]

What did you say Comrade? (pig)

Do you kiss your mother with that mouth?

I'd hope not.

Of course, if she put on some lipstick......

[Thumper1960]

Long ago, many of us were taught the value of personal responsibility. Doing what was good and proper. We were taught that your work helped define you. Not just what you did, but how you did it. we were taught to be honest and fair in our dealings with others. An honest days work for an honest days pay. Too many of the "kingpins" on Wall Street and other of the powers that be seem to have not learned those lessons. They didn't learn that what you do can affect others. In their quest for power and wealth, their recklessness and very poor decisions have cascaded into a seemingly worldwide financial free fall. Perhaps some would prefer we just shrug and say: "That's the marketplace." Many of us prefer to punish bad behavior and criminal conduct with more austere measures.

In any event, isn't it a grand plan our founders designed where we can voice our stands and offer our unique solutions to boorish conduct.

[freebilly]

Many of us prefer to punish bad behavior and criminal conduct with more austere measures.

I agree, but I don't believe that justice is served by when the tough guy in the gym enforces his code or righteousness on anyone else. Mr. Fuld actions bear looking into. If an investigation warrants criminal charges then Mr. Fuld deserves his day in court. If found guilty he deserves punishment.

As for the gym bully? He deserves jail time.

[Thumper1960]

The gym bully may deserve jail time, but he'd probably never receive any. His defense would be extreme duress due to Mr. Fuld's "alleged" fiscal shenanigans which led to still uncalculated distress and hardship for possibly millions of people.

"If" Fuld ever goes to any criminal proceedings, he'll likely skate, still gilded by the wanton reckless greed he and his ilk so effectively practiced.