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LONDON (Reuters) – The former deputy Governor of the Bank of England said he was "astounded" the U.S. government let Lehman Brothers go under, and that the bank's collapse marked a clear moment when people lost confidence in the markets. Sir John Gieve said in an interview with Sky News he had fully expected U.S. authorities to step in this time last year to rescue the stricken investment bank, as it had done earlier with peer Bear Stearns. The Federal Reserve put up $29 billion in March 2008 to underwrite JP Morgan Chase's (JPM.N) rescue of Bear Stearns, and was...

Ameriquest Mortgage Corp. signed a contract to pay Wayne Lee $50 million for a "consulting agreement" after he quit as chief executive officer of the Orange-based subprime lender in 2005. Lee's five-year deal barred him from competing with or disparaging Ameriquest while requiring him to work a maximum 25 hours every three months. That meant Lee was paid $100,000 an hour – about half as much as the $237,000 Los Angeles Lakers star Kobe Bryant earns per regular season game. Many people have heard of Bryant, the National Basketball Association's 2008 most valuable player. Lee is less famous. In fact,...

Former Lehman boss sells mansion to wife for US$100 FALLEN Lehman Brothers chief executive Richard Fuld sold his $US13.3 million mansion to his wife for just $US100 last November, according to Florida real estate records. The 62-year old executive, who could face civil lawsuits after overseeing the storied investment bank's collapse into bankruptcy proceedings last September, transferred ownership of the 3.3 acres seaside home to Kathleen Fuld on November 10, records show. The couple had jointly bought the home for $US13.75 million in March 2004, as first reported by Cityfile.com. Mr Fuld has been blamed for Lehman's collapse on September...

January 26, 2009 Ex-Lehman chief sold $13m home to wife for $100 (Susan Walsh/AP) Christine Seib in New York Richard Fuld, the disgraced former chief executive of Lehman Brothers, sold his $13.3 million (£9.6 million) Florida mansion to his wife in November for $100, according to real estate records. Mr Fuld, who is widely blamed for the collapse of Lehman Brothers in September last year, bought the house with his wife, Kathleen, in March 2004 for $13.75 million. On November 10, the 62-year-old banker transferred the seaside mansion into Mrs Fuld's name in return for $100. Mr Fuld is expected...

Dick Fuld: Protecting the Assets That Remain! A tipster just alerted us to a bit of stunning Dick Fuld news: The disgraced ex-CEO of Lehman Brothers transferred ownership of his $13.75 million Jupiter Island mansion to his wife, Kathy, on November 10th. Could Fuld be worried about the flurry of lawsuits from incensed shareholders and creditors? Possibly! According to Martin County, Florida property records, the home was previously owned by the couple jointly. Until, that is, Fuld transferred it to his wife for the princely sum of $100 on November 10, less than two months after the firm went...

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...

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,...

Executives passing the buck for failures win no sympathy. "They need to man up and take responsibility," said Warren Bennis, U of So California. "They kept believing in their own omniscience thinking they can get away with anything." CEO's summoned to Capitol Hill offered a variety of excuses for their failures. Lehman Brothers' Richard Fuld said that management did "everything we could to protect the firm." Fuld's 8-year compensation totaled $484.8M. Harvey Mackay, author of "Swim With the Sharks Without Being Eaten Alive: "They all have chapped lips from kissing the mirror too much."

Journalists are trained to “follow the money” – to uncover who donates how much to what campaign, especially in the midst of a presidential election. When Lehman Brothers CEO Richard Fuld testified before the House Oversight Committee Oct. 6, the media criticized his wealth and spending amidst financial turmoil in his company and on Wall Street. But conspicuously missing was the story of Fuld’s political contributions. According to the Center for Responsive Politics, Fuld has donated to Democratic candidates over Republican candidates by a margin of almost 5-to-1 in the last 15 years. He has given $106,400 to Democratic candidates...

FULD, RICHARD NEW YORK,NY 10285 LEHMAN BROTHERS/MANAGING DIRECTOR 4/9/07 $10,000 Democratic Senatorial Campaign Cmte (D) FULD, RICHARD NEW YORK,NY 10019 LEHMAN BROTHERS/CHAIRMAN AND CEO 1/28/08 $2,000 Reed, Jack (D) FULD, RICHARD S GREENWICH,CT 06831 LEHMAN BROTHERS/CHAIRMAN AND CEO 5/29/07 $2,300 Clinton, Hillary (D) FULD, RICHARD S JR GREENWICH,CT 06831 LEHMAN BROTHERS/CHAIRMAN AND CEO 10/19/07 $2,300 Clinton, Hillary (D) FULD, RICHARD S JR GREENWICH,CT 06831 LEHMAN BROTHERS/FIANCE 5/30/07 $2,300 Obama, Barack (D) FULD, RICHARD S JR GREENWICH,CT 06831 8/28/08 $-2,300 Clinton, Hillary (D) FULD, RICHARD S MR JR GREENWICH,CT 06831 10/22/07 $10,000 National Republican Senatorial Cmte (R) FULD, RICHARD S MR...

Richard Fuld, the disgraced head of Lehman Brothers, was punched in the face in the office gym amid the bank's collapse. Mr Fuld, who has been testifying on the financial crisis before the US House Oversight Committee, was attacked on a Sunday shortly after it was announced that the banking giant was bankrupt. Following rumours that the incident had occurred, Vicki Ward, a US journalist, said "two very senior sources - one incredibly senior source" had confirmed it to her. "He went to the gym after ... Lehman was announced as going under," she told CNBC. "He was on a...

WASHINGTON (AFP) — US lawmakers Monday grilled the head of Lehman Brothers demanding he justify some 500 million dollars he had earned since 2000, as well as huge bonuses sought for top executives even as the bank failed.

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Are you capable of taking a perfectly good 158-year-old company and turning it into dust? You should be raking it in like Richard Fuld, Lehman Bros CEO. He took home nearly half-a-billion dollars in total compensation between 1993-2007. Last year, Fuld earned about $45M, according an executive pay research company. ........ roughly $17,000 an hour to obliterate a firm. If you’re willing to drive a company into the ground for less, apply by calling Lehman Brothers........ Fuld (who continues to lead Lehman since it entered bankruptcy proceedings) is the winner of my annual Michael Eisner Award for corporate rapacity and...

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 the firm announced it 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...

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....

Stocks decline amid global worries credit crisis is spreading; Dow falls below 10,000 NEW YORK (AP) -- Wall Street tumbled again Monday, joining a sell-off around the world as fears grew that the financial crisis will cascade through economies globally despite bailout efforts by the U.S. and other governments. The Dow Jones industrials skidded nearly 500 points and fell below 10,000 for the first time in four years, while the credit markets remained under strain. The markets have come to the sobering realization that the Bush administration's $700 billion rescue plan won't work quickly to unfreeze the credit markets, and...

Former Lehman Brothers CEO and long-time Barack Obama contributor Richard Fuld is testifying today concerning his role in the failure of the Investment banking giant. Fuld joins the ranks of the dozens of former wall street executives who have or are likely to be paraded in front of Congress over the coming months. Fuld also contributed to Senator Dodd's campaign and The Democratic National Senatorial Committee's fund. Among Obama's campaign contributors are dozens of other ...

Disgraced CEO Richard Fuld, who oversaw the demise of venerable Lehman Brothers Holdings Inc that helped tip the credit crunch into a full-blown crisis, will testify at a congressional hearing next week. Rep. Henry Waxman, the Democratic chairman of the U.S. House of Representatives Committee on Oversight and Government Reform, has called Fuld and former chief executives of insurer American International Group Inc to appear at hearings into the financial excesses that led to the collapse of the companies. "Lax oversight and reckless investments on Wall Street are causing massive disruption throughout our economy," Waxman said in a statement on...

Big Fuld Richard S. Fuld, Jr., (Former) CEO of Lehman Brothers Big Cayne James E. (Jimmy) Cayne, Former CEO of Bear Stearns Big Spitzer Eliot Spitzer, Former New York Governor Big Bernanke Ben S. Bernanke, Chairman of Federal Reserve Board