Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Pinstripes to prison stripes for Fuld?
FierceFinance ^ | 10/15/08 | mbernhart

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 ...


TOPICS: Business/Economy; Extended News; News/Current Events
KEYWORDS: crime; fuld; lehman
Navigation: use the links below to view more comments.
first 1-2021-27 next last

1 posted on 10/16/2008 7:22:35 AM PDT by TigerLikesRooster
[ Post Reply | Private Reply | View Replies]

To: PAR35; TigerLikesRooster; bamahead; AndyJackson; Thane_Banquo; nicksaunt; MadLibDisease; ...

Ping!


2 posted on 10/16/2008 7:23:24 AM PDT by TigerLikesRooster (kim jong-il, chia head, ppogri, In Grim Reaper we trust)
[ Post Reply | Private Reply | To 1 | View Replies]

To: TigerLikesRooster

Fuld, then Franklin Raines, Jim Johnson, Jamie Gorelick...


3 posted on 10/16/2008 7:27:24 AM PDT by ikka
[ Post Reply | Private Reply | To 1 | View Replies]

To: ikka

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...


4 posted on 10/16/2008 7:29:58 AM PDT by SERKIT ("Blazing Saddles" explains it all.....)
[ Post Reply | Private Reply | To 3 | View Replies]

To: ikka

franklin raines, jim johnson, jamie gorelick should be in prison, but they’re democrats.


5 posted on 10/16/2008 7:30:59 AM PDT by ken21 (people die and you never hear from them again.)
[ Post Reply | Private Reply | To 3 | View Replies]

To: TigerLikesRooster

Maybe he and Mozillo could share a cell.

They could be prisioner Bubbba’s!


6 posted on 10/16/2008 7:32:32 AM PDT by aShepard (Loose lips Sink ships)
[ Post Reply | Private Reply | To 1 | View Replies]

To: SERKIT

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!


7 posted on 10/16/2008 7:32:44 AM PDT by Ruth C (!!!! Get off the back of your lap and VOTE !!!!)
[ Post Reply | Private Reply | To 4 | View Replies]

To: ikka

Dodd, then Raines, Gorelick...


8 posted on 10/16/2008 7:33:34 AM PDT by Eric in the Ozarks
[ Post Reply | Private Reply | To 3 | View Replies]

To: TigerLikesRooster; All

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?


9 posted on 10/16/2008 7:44:14 AM PDT by reaganaut1
[ Post Reply | Private Reply | To 1 | View Replies]

To: TigerLikesRooster

I suggest a televised trial by ordeal. Dunk him in water to see if he drowns.


10 posted on 10/16/2008 7:45:19 AM PDT by Moonman62 (The issue of whether cheap labor makes America great should have been settled by the Civil War.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: TigerLikesRooster

That’d be a real shame.


11 posted on 10/16/2008 7:47:34 AM PDT by Wolfie
[ Post Reply | Private Reply | To 1 | View Replies]

To: TigerLikesRooster
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.

As long as the politicians "partially responsible for the financial meltdown" are in the next cell.

12 posted on 10/16/2008 8:03:30 AM PDT by Toddsterpatriot (Do you remember when blue was a feeling, gray was a word and one was a number...)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Toddsterpatriot

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.


13 posted on 10/16/2008 8:06:00 AM PDT by Jack Black
[ Post Reply | Private Reply | To 12 | View Replies]

To: Jack Black
He's an easy target because he was on top of the CEO compensation list for so long. Unless he committed a crime, they should leave him alone. But as long as the mob is chasing him, they should chase Raines, Frank, Dodd, Obama etc.....
14 posted on 10/16/2008 8:08:03 AM PDT by Toddsterpatriot (Do you remember when blue was a feeling, gray was a word and one was a number...)
[ Post Reply | Private Reply | To 13 | View Replies]

To: ikka
And don't forget AIG's CEO Sullivan. Sullivan walked away with millions in bonuses and a platinum parachute.

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.

15 posted on 10/16/2008 8:15:58 AM PDT by Liz (Taxpayer: one who works for the govt but doesn't have to take a civil service test. R. Reagan.)
[ Post Reply | Private Reply | To 3 | View Replies]

To: Grampa Dave; LaurenD; george76; SierraWasp; BOBTHENAILER
Fuld's testimony before Congress was assinine----from Fuld's point of view he was screwed over by his fellow sharks. But Fuld deserves all the blame for not out-thinking these sharpies.

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.

16 posted on 10/16/2008 8:18:41 AM PDT by Liz (Taxpayer: one who works for the govt but doesn't have to take a civil service test. R. Reagan.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: TigerLikesRooster

I don’t suppose the faithful dem lapdog Cooper mentioned any politicians or former political hacks in that little list of his did he?


17 posted on 10/16/2008 8:25:22 AM PDT by Oldpuppymax (AGENDA OF THE LEFT EXPOSED)
[ Post Reply | Private Reply | To 1 | View Replies]

To: TigerLikesRooster
According to John Ashcroft's sworn testimony in front of the 9/11 Commission the attacks were unforseen because of the wall of separation between law enforcement and intelligence that was implemented during the Clinton Admistration.

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.

18 posted on 10/16/2008 9:12:22 AM PDT by groanup (The Clintons and the Obamas are two reasons IDIOTS should not be allowed to vote.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: TigerLikesRooster
the more of these corrupt, greedy manipulators of the market are indicted and serve time, the more confidence the public will have in the system,. But these prosecutions must be timely. They must not be dragged out forever and ever like Jefferson(D) of Louisiana.
19 posted on 10/16/2008 9:12:59 AM PDT by elpadre (nation)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Moonman62
I suggest a televised trial by ordeal. Dunk him in water to see if he drowns.

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.

20 posted on 10/16/2008 10:01:36 AM PDT by NurdlyPeon (Sara Palin: Americas' last, best hope for survival.)
[ Post Reply | Private Reply | To 10 | View Replies]


Navigation: use the links below to view more comments.
first 1-2021-27 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson