A View From Middle England - Conservative with a slight libertarian touch - For Christian charity and traditional belief - Free Enterprise NOT Covert Corporatism

Tuesday, October 07, 2008

Richard Fuld - corporate sleaze artist!

The head of failed US investment bank Lehman Brothers has told Congress that he took home about $300m in pay and bonuses over the past eight years. And he then went on to say, "I don't expect you to feel sorry for me". No we don't, Mr.Fuld.

This guy represents all that is wrong. He pockets vast sums of cash, other people's money, on the pretext that it is a "bonus". Mr.Fuld, bonus means doing good. You have done nothing good in this. Even days before the collapse you were requesting multi-million dollar bonuses for departing executives!

As Treasury Committee chairman Henry Waxman said, "In other words, even as Mr. Fuld was pleading with Secretary Paulson for a federal rescue, Lehman continued to squander millions on executive compensation."

No integrity, Mr.Fuld! No, honour, Mr.Fuld! And certainly no sense of decency! Don't be surprised if the Feds come a'calling!


I saw Fuld being chased by a CNN investigative reporter all the way to the door of the senate floor and he was so evasive almost mum when asked if his hundreds of millions in earnings was fair while his firm is having financial problems. Shameless indeed......

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