I defy anyone (Bush Republicans included!) to watch this clip and not want to punch Richard Fuld in the face. Again. Or in the peen, you can pick.
Now, it emerges that Dickhead Fuld is desperately divesting himself of assets in preparation for upcoming lawsuits, and to this end, Fuld has given his wife a $14M house. Ok, sold, since she "paid" $100 for it. A $14M estate on Jupiter Island for $100? That's a bargain!
From the Independent:
"In the weeks after Lehman collapsed around him, triggering the worst financial panic since the Great Depression and causing him a personal $1bn (£718m) loss on his stake in the firm, Mr Fuld transferred ownership of a $14m mansion in Florida to his wife, Kathleen [pictured below left]. She paid just $100, the minimum allowed by Florida law.
"The five-bedroom property, nestled on 3.3 acres of beachfront at beautiful Jupiter Island, north of the well-to-do playground of Palm Beach, is their "seasonal getaway" and one of five homes the couple own."
The Fulds are clearly looking to hang on to their misbegotten (hundreds of) millions, despite being at the center of the toxic mortgage racket, and, some say the architects of its implosion. And here's why I think he belongs in jail; it concerns a Lehman subsidiary called Aurora:
"Even in the late '90s, however, the company was underwriting loans issued by questionable lenders. The company did a lot of the underwriting early on for loans issued by two of the more notorious lenders, Delta Funding Corp. and FAMCO, according to Josh Zinner, a lawyer with the Neighborhood Economic Development Advocacy Project."
rest http://www.unattributable.com/2009/01/dick-fuld-needs-another-punch/
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