Tuesday, October 07, 2008

Paybacks are a bitch!

Fuld, the CEO of Lehman Bros, recently appeared in front of Congress. What most folks don't know is that the margin call that caused the company to fold was 8 Billion dollars, and last years bonus pool for the company was 9 Billion dollars.

Now on the Street, everyone knows that if the company does not do well or the market does not do well, bonuses don't happen or don't happen well.

Well, apparently Lehman went ahead with the bonuses, and now they are gone.

But the Sweetest and smoothest icing on the Lehman Brothers cake is that Fuld got decked and knocked out by a fellow employee in the Lehman gym after the announcements of the failure.

I imagine that he kind of pissed someone off.

Imagine that.

The article is here: http://www.telegraph.co.uk/finance/financetopics/financialcrisis/3150319/Richard-Fuld-punched-in-face-in-Lehman-Brothers-gym.html

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