Posted on 10/16/2008 7:22:35 AM PDT by TigerLikesRooster
Pinstripes to prison stripes for Fuld?
By mbernhart
Created Oct 15 2008 - 4:55pm
Richard Fuld, the infamous former CEO of now-bankrupt Lehman Brothers, could be headed to prison, according to Economist.com. If the aftermath of corporate failures like Enron and WorldCom are any indicator, the general public and the U.S. government will want the Wall Street titans partially responsible for the financial meltdown sent straight to the slammer.
Public opinion is already mounting around Fuld's perceived guilt. CNN's Anderson Cooper has even launched a segment entitled "Ten Most Wanted Culprits of the Collapse." Fuld came in at an impressive, and damning, No. 2 spot--revealing just how difficult the battle to clear his name will be. Although Fuld denied that he purposely misled the public about Lehman's problems in recent Congressional hearings, many have their doubts.
"Either he should have known that the company was in difficult circumstances or if he did know and didn't tell, it creates another problem. On the one hand he is either a liar or else on the other hand, he is stupid," said Sean Egan of Egan-Jones Ratings, who evaluates companies like Lehman for investors, on Cooper's blog.
Maybe Fuld is just the scapegoat for the broader epidemic of Wall Street greed. In fact, Economist.com reports that Republican congressman, John Mica, even said this much during the hearings, saying "If you haven't discovered your role, you're the villain today. You've got to act like a villain."
(Excerpt) Read more at fiercefinance.com ...
Ping!
Fuld, then Franklin Raines, Jim Johnson, Jamie Gorelick...
Let’s get others fitted for the orange jumpsuits for Federal prison, too: Dodd, Franks (send him to a women’s prison so he won’t think he died and went to heaven), Clinton (send her to a men’s prison so she won’t think she died and went to heaven), Obama...
franklin raines, jim johnson, jamie gorelick should be in prison, but they’re democrats.
Maybe he and Mozillo could share a cell.
They could be prisioner Bubbba’s!
I’m with you, and let’s include the Acorn executives and any and all of the congress who voted for the new CRA bill which gave them so much power!
Dodd, then Raines, Gorelick...
Making bad business decisions should not be a criminal offense. It’s probably true that Fuld painted an overly optimistic picture of Lehman’s finances, but CEOs are expected to put on a brave face, especially when they are trying raise money. Should Bush go to jail because he made optimistic statements about Iraq for too long before the surge?
Do you want businesses run by lawyers?
I suggest a televised trial by ordeal. Dunk him in water to see if he drowns.
That’d be a real shame.
As long as the politicians "partially responsible for the financial meltdown" are in the next cell.
Dick Fuld’s firm is in bankruptcy.
It didn’t cost taxpayers money. Why all the attention on him? I’m more interested in the CEO’s of the firms that have taken hundreds of billions of tax dollars. Goldman, JPMorgan, etc.
These are the people who are costing me real money.
Go after feld is like arresting the victim of a mugging and letting the muggers walk free.
The AIG greedsters have now been given $122.5 billion tax dollars and are
already in hot water for excessive perks including a $440,000 junket at this
luxe California spa AFTER the feds bailed them out.
Wonder how many sex acts taxpayers paid for. Lookit this fat AIG CEO. Guy's
gotta be paying for it. No decent woman would perform a sex act on this pig
voluntarily.
Fuld failed to line up his chess pieces in the high-stake financial games.........shoulda checkmated at the proper time. That's what he was paid half a billion to do.
All of these financial guys are Major Users. They play off each other---in sophisticated mind games to get a specific reaction. They then turnaround and use the other person for The End Game........ to enrich themselves. Very much in evidence when Fuld testified before Congress.
Same goes for hedgers.
I don’t suppose the faithful dem lapdog Cooper mentioned any politicians or former political hacks in that little list of his did he?
The person who issued the order to create that wall was Deputy AG Jamie Gorelick.
The same person who was Vice Chairman of FNMA during the years it cooked the books to create bonuses for high level employees.
Why isn't Gorelick doing a perp walk?
You'd have to go back to Jefferson Davis and Abe Lincoln to find someone who damaged the country more than Jamie Gorelick.
Throw him in the water. If he floats, then he's a witch, and we burn him at the stake. If he sinks to the bottom and stays there for five minutes, then he's innocent.
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