Days from becoming the largest bankruptcy in U.S. history, Lehman Brothers steered millions to departing executives while pleading for a federal rescue !!!
Rep. Henry Waxman, D-Calif., chairman of the House Oversight and Government Reform Committee today grilled Lehman Brother's CEO Richard Fuld Jr. on whether it was true he himself took home some $480 million in compensation since 2000, and asked: "Is that fair?"
Say what? $480 million in compensation? For running the 4th largest bank into the ground? Can you only imaging how many investment dollars were plundered from pension funds by his irresponsible and greedy actions?
Fuld declared to the committee, "I take full responsibility for the decisions that I made and for the actions that I took." He defended his actions as "prudent and appropriate". "I feel horrible about what happened," Fuld said.
Prudent and appropriate? For driving Lehman into the ground? He must feel like crap. But wait. He still has his $480 million in compensation !. How can you sincerely feel horrible while still having $480 million in the bank.
Why is it that he is allowed to keep that $480 millions? Not only should they go after those funds, they need to take his property, his assets, his cash - EVERYTHING. He needs to feel the pain that his investors are now feeling.
YouTube video clip "Lehman exec gets $480 million"
CEO Richard Fuld's Compensation by year for running a company into the ground and loosing trillions in investment dollars at the time.
- 2000 $ 52,500,000
- 2001 $ 98,400,000
- 2002 $ 22,900,000
- 2003 $ 45,000,000
- 2004 $ 24,900,000
- 2005 $ 89,500,000
- 2006 $106,200,000
- 2007 $ 45,400,000
- 2008 Company Out of Business
- How much did you earn last year in comparison?
- How much money did you loose on your investments last week?
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