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Ex-Lehman CEO: 'You Don't Have A Gun; That's Good'

last updated: 9 September 2009
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'You don't have a gun; that's good'. That's how former Lehman Brothers CEO Dick Fuld recently greeted two Reuters reporters, as they came to his home for an exclusive interview.

And although Fuld was joking, the last 12 months have been tough for someone who, for a lot of that time (along with Bernie Madoff) was one of the most unpopular men in the United States.

Here's a couple of interesting Fuld comments from the Reuters interview:

'You know what ? The anniversary's coming up. I've been pummeled. I've been dumped on, and it's going to happen again. I can handle it. You know what, let them line up'.

'They're looking for someone to dump on right now, and that's me........(But) this too will pass'.

'Nobody wants to hear (from me). The facts are out there. (But) nobody wants to hear it, especially from me'.

Other interesting info about Fuld

He has been named in over 40 different legal actions since the fall of Lehman, and is believed to have personally lost over $1bn of his fortune, which was mostly tied up in Lehman stock.

But some are saying that Fuld might be due for a comeback, both in terms of business and his reputation. Just how much of a redemption the 63-year-old man at the helm of the company which ended up as the biggest bankruptcy in US history can expect, however, remains to be seen. We're not betting on it.

Finally, Bloomberg reports that, according to his aides, then-US Treasury Secretary Hank Paulson left his suite at Manhattan's Waldolf-Astoria on the morning of 15th September last (the morning Lehman filed for bankruptcy), believing that 'he'd done all he could to minimize the damage' from the firm's collapse. The news agency also quotes Reserve Management Co Chief Investment Officer Patrick Ledford, who probably speaks for millions, when he said: 'Paulson and (US Fed Chief) Bernanke totally f...ed this up. I don't think they thought this goddamned thing through, to figure out what the rippling effects would be'.

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