CEO Richard Fuld has been the chief executive officer of Lehman Brothers Holdings Inc since 1993. He is 60 years old. Follow Mr. Fuld and Lehman Brothers Holdings Inc in the news and blogs or share your own opinion about the company and...
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CEO Richard Fuld has been the chief executive officer of Lehman Brothers Holdings Inc since 1993. He is 60 years old. Follow Mr. Fuld and Lehman Brothers Holdings Inc in the news and blogs or share your own opinion about the company and its leadership.
(Reuters) - Lehman Brothers Holdings Inc <LEHMQ.PK> has filed a lawsuit against Barclays Capital Inc alleging the British bank took control of excess assets in collusion with Lehman executives when it bought its U.S. brokerage business a year ago, court documents show. Lehman filed for bankruptcy on September 15, 2008, in the largest U.S. bankruptcy in history. Its flagship U.S. brokerage business was sold to Barclays less than a week later in a hurriedly assembled deal. Lehman said in... Read Full Story
NEW YORK (Reuters) - Two former Bear Stearns Cos hedge fund managers were acquitted on Tuesday of fraud charges in the first criminal trial of prominent Wall Street executives stemming from subprime mortgage securities that fueled a market meltdown. A jury in U.S. District Court in Brooklyn, New York, reached its verdict in the month-long trial of hedge fund managers Ralph Cioffi, 53, and Matthew Tannin, 48, after less than six hours of deliberations. The verdict could have implications for... Read Full Story
AN AMBITIOUS LOOK AT WALL STREET'S CONVULSIONS
Too Big to Fail:
The Inside Story of How Wall Street and Washington
Fought to Save the Financial System--and Themselves
By Andrew Ross Sorkin
Viking; 600 pp.; $32.95
There's no paucity of books about the financial crisis. Journalists, academics, economists, and pundits seem to have chronicled every event surrounding the drama on Wall Street. Some bite off just a piece, as did Wall Street Journal reporter Kate Kelly in Street Fighters... Read Full Story
NEW YORK (Reuters) - Lehman Brothers Holdings Inc <LEHMQ.PK> said on Tuesday that Barclays Capital Inc <BARC.L> got a $8.2 billion "windfall profit" from excess assets it took control of in the fire sale of Lehman's U.S. brokerage business a year ago. In court papers filed in federal bankruptcy court on Tuesday, Lehman claimed that "critical changes" were made to the sale in between the time the sale order was signed and the deal was closed, resulting in Barclays gaining control of assets... Read Full Story
The administrators of Lehman Brothers' assets in Europe said Monday that they may seek a direct agreement with hedge funds and other creditors to return money tied up since the collapse of the parent company as an alternative to a court-sanctioned settlement. PricewaterhouseCoopers — which controls some $8.9 billion in assets from Lehman Brothers International (Europe) since the parent company went bankrupt on Sept. 15, 2008 — has proposed a contractual agreement with creditors following an... Read Full Story
A chill runs down the spine of Lawrence McDonald every time he drives past the Wall Street building of collapsed investment bank Lehman Brothers, where he was one of the most profitable bond traders. "The big takeaway is that the fate of 20,000 souls was determined in that building, especially on the 31st floor," McDonald, 43, told AFP in an interview ahead of the first anniversary Tuesday of Lehman's collapse. The 158-year-old Lehman filed for bankruptcy protection on September 15, 2008, in... Read Full Story
PARIS (Reuters Life!) - French maths and computer science graduate Edouard d'Archimbaud thought he was about to start a lucrative and challenging career in finance when he walked through the doors of Lehman Brothers' London offices a year ago. Surprised to see crowds of journalists, staff and police in front of the building as he turned up for his first day on September 15, 2008, it was only once inside that d'Archimbaud realized he may as well not have got out of bed. "I went into the... Read Full Story
Lehman Plans Neuberger Auction, Real Estate Spinoff (Update3) Sept. 10 (Bloomberg) -- Lehman Brothers Holdings Inc. , reporting the biggest loss in its 158-year history, said it will sell a majority stake in its asset-management unit, spin off commercial real-estate holdings and cut the dividend in an effort to shore up capital and regain investor confidence. Lehman rose in New York trading after posting a $3.9 billion third-quarter loss on $5.6 billion of writedowns, worse than the $2.2... Read Full Story
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... Read Full Story
Probably not: The former Lehman Brothers CEO is just a little late paying the $212,000 in annual property tax on his Jupiter Island home, is all, but William D. Cohan is 900 words of worried. [ Daily Beast ]
Read more posts by Jessica Pressler Filed Under: the gorilla , at this rate cohan should be able to pay his own property taxes this year , business , dick fuld , real estate , richard fuld
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