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Related: About this forumLEHMAN BROS. CEO RICHARD FULD GOT $483 MILLION FOR BANKRUPTING HIS COMPANY
Richard Fuld, CEO of Lehman Brothers Investment Bank, received over $483 Million in executive compensation for bankrupting his company. Founded in 1850, Lehman Brothers of NY's Wall Street was the fourth-largest US investment bank after Goldman Sachs, Morgan Stanley and Merrill Lynch before it was closed in 2008.
In 2006, CEO Fuld cashed out over $100 Million of his executive stock options. At the time many in the financial industry knew the subprime mortgage fraud bubble would collapse and other high level employees in the banking, finance and mortgage industries cashed out stocks and/or left companies before the stock market crashed in 2008.
Oct. 6, 2008. Lehman Brothers CEO Richard Fuld testified before Congress, questioned by Rep. Henry Waxman (D-CA) and other government officials about the bankruptcy of his company; whether Fuld's enormous CEO compensation of over $480 Million since 2000 was fair when shareholders and investors got nothing; that the US economy was in crisis; and if his company's losses that were bailed out by taxpayers and socialized was appropriate.
https://en.wikipedia.org/wiki/Lehman_Brothers
Turbineguy
(37,337 posts)to organize and manage production. Now it's mostly to empty the treasury.
appalachiablue
(41,140 posts)Turbineguy
(37,337 posts)warned us about looters.
Just the wrong ones.
appalachiablue
(41,140 posts)ForgoTheConsequence
(4,868 posts)Fuld has donated at least $3,300 to Clinton since 2005, on top of the more than $120,000 he has given to Democratic candidates and committees, which is significantly more than he has donated to Republicans.
Lehman Brothers employees are the 9th largest source of campaign contributions to Hillary Clinton over the course of her career, donating more than $360,000 prior to the firms bankruptcy in 2008. Lehman Brothers also donated between $100,001 and $250,000 to the Clinton Foundation.
http://freebeacon.com/blog/disgraced-former-lehman-brothers-ceo-and-major-democratic-donor-refuses-to-apologize-for-role-in-2008-financial-crisis/
appalachiablue
(41,140 posts)"Major Democratic Donor"..
appalachiablue
(41,140 posts)Four denizens in the world of high-finance predict the credit and housing bubble collapse of the mid-2000s, and decide to take on the big banks for their greed and lack of foresight.
Director: Adam McKay
Writers: Charles Randolph (screenplay), Adam McKay (screenplay) | 1 more credit »
Stars: Christian Bale, Steve Carell, Ryan Gosling | See full cast & crew »
http://www.imdb.com/title/tt1596363/
https://en.wikipedia.org/wiki/The_Big_Short_(film)
nationalize the fed
(2,169 posts)This is beyond obscene and absurd. At some point some one or some people are going to stop it, right?
Meanwhile (as "our" government spends around $200 million per day on foreign wars) the divorced working Mother with 2 kids and 2 jobs must be sure to fill out her tax return exactly right or face penalties.
appalachiablue
(41,140 posts)for the MIC, Military Industrial Complex and foreign entanglements while families scurry and work to get by.
Great cartoon, 'Too Big to Jail', but not for many folks unfortunately. 2.2 million incarcerated and in the prison system to be exact.
jwirr
(39,215 posts)minimum wage. Shameful.
appalachiablue
(41,140 posts)on the block by both for years...Much less a min. wage increase to $15, or even $10.10 in places, up from $7.25. Astounding corruption and greed we have here.
Enthusiast
(50,983 posts)Don't entertain the thought that he is an acceptable moderate Republican.
appalachiablue
(41,140 posts)was his favorite? No wonder with the stock option load he came away with in those peak profit years. Once they get a taste of prime cut roast beef, they never go back to a ham sandwich.
Kasich is no moderate, only seems less dangerous in his manner and style. His true side showed recently when he said about cutting Social Security at an event to someone in the audience-- 'get over it'.
All Heart..Not this guy! Business Republican all the way, though perhaps not as cruel as Mitt or Ryan, maybe..
Enthusiast
(50,983 posts)appalachiablue
(41,140 posts)Moostache
(9,895 posts)Dick Fuld
John Mack
Angelo Mozilo
John Thain
Hank Paulson
Lloyd Blankfein
Jamie Dimon <--(dunno how I forgot this one at first blush...)
I am nearly 20-25 years younger than each of those assholes.
Every single one of them should be rotting in prison right now.
Every single one of them should have been fined for every penny they were worth on paper because they are all utterly worthless human beings.
I plan to outlive them all, and to piss on every one of their graves, while dancing and toasting their demise. I will celebrate each of their deaths with champagne as if I were a member of the 1972 Miami Dolphins when the last unbeaten team in the NFL loses each year.
I want them all to die on different days too...I want to get my enjoyment out of celebrating their deaths one by one, not all at once.