Fuld weighs comeback with advisory boutique

FT ^ | 12/12/08 | Francesco Guerrera

[TigerLikesRooster]

Fuld weighs comeback with advisory boutique

By Francesco Guerrera in New York

Published: December 12 2008 23:43 | Last updated: December 12 2008 23:43

Dick Fuld, the former chief executive of Lehman Brothers, is planning a comeback and has told friends he might launch a small advisory firm to harness his contacts in US companies once the dust settles on Lehman’s bankruptcy.

People close to the situation said Mr Fuld’s plans were neither firm nor immediate because the legal and political fall-out from Lehman had still to play out.

In October, Mr Fuld and other Lehman executives received subpoenas relating to federal investigations into whether managers misled the public about the bank’s financial condition before its collapse in September.

Mr Fuld, 62, who ruled Lehman with an iron fist for 15 years, has told former colleagues and clients that he has no intention of retiring. He has argued that his long experience of Wall Street and the corporate world can still be valuable to companies and chief executives.

People close to the situation said one of the options Mr Fuld is considering is the launch of a small advisory boutique to help companies with strategic and financial issues.

Some Wall Street figures doubt whether Mr Fuld would be able to persuade chief executives to hire him for advice after he was sharply criticised by politicians and investors for his stewardship of Lehman.

[TigerLikesRooster]

He is insane. If he represents many of those at the upper management at Wall Street firms, we will surely have more surprises to come our way.

[TigerLikesRooster]

Ping!

[aculeus]

Here’s a financial blog worth a daily busy.

http://www.nakedcapitalism.com/2008/12/links-121308.html

[TLI]

Mr. Fuld, 62, who ruled Lehman with an iron fist for 15 years, has told former colleagues and clients that he has no intention of retiring. He has argued that his long experience of Wall Street and the corporate world can still be valuable to companies and chief executives.

Perhaps x-Gov. Blagojevich could be his first client. They seem to have the same issue… recognizing reality.

[dennisw]

He is insane. If he represents many of those at the upper management at Wall Street firms, we will surely have more surprises to come our way.

He got decked, knocked out cold, in the Lehman exercise room a few months ago. By a furious ex-employee. So the story goes. Fuld is the poster boy for pathological Wall Streeters. He had Lehman leveraged 30-1. Fuld made Lehman into a CMO machine that owned mortgage making companies. 

Lehman had a CMO assembly line that Merrill Lynch envied and copied> http://www.nytimes.com/2008/11/09/business/09magic.html
Where the CMO was put together then sub prime mortgages were created to fill it up.
The CMO came before the mortgage.
The mortgage fulfilled the CMO demand instead of the CMOs being created due to having  a high inventory of mortgages

Once the CMO was created it was sold. The vertically integrated process made Lehman billions and Fuld 400 million in the last 6 years

[org.whodat]

Mr Fuld, 62, who ruled Lehman with an iron fist for 15 years, has told former colleagues and clients that he has no intention of retiring. He has argued that his long experience of Wall Street and the corporate world can still be valuable to companies and chief executives.

Guess he can claim he's an expert in lose write off!!!

[org.whodat]

Where the CMO was put together then sub prime mortgages were created to fill it up. The CMO came before the mortgage.

Most people here do not understand the pressure that was created to have a warm body sign a mortgage agreement, no matter what the condition of the body.

[Wolfie]

Hey, when the Feds are letting you bundle them up and sell them to someone else, why not? These guys might stink on ice, but they’re not stupid.

[pointsal]

Where the CMO was put together then sub prime mortgages were created to fill it up. The CMO came before the mortgage.

Most people here do not understand the pressure that was created to have a warm body sign a mortgage agreement, no matter what the condition of the body.

There are plenty of folks in food chain. Some were outright crooks, some just simpletons filling out checklists, and some were just gaming the system. Socially, a bad situation all the way around...

[lewislynn]

Fuld:
$122,600 Democrat
$32,900 Republican

[lewislynn]

Fuld:
$122,600 Democrat
$32,900 Republican

Looks like getting a job in finance won't be a problem.