Discuss.
we’ll never know
Lehman was a sound company at one point. What’s the context of this quote?
and BBQ actually has passed according to retabalztuiltiioncaction #5
It was a sound company at one point. But their reluctance to admit how bad their balance sheet was, the extent of their leverage, likely losses/write-downs, etc, was nothing short of appalling. The management turnover in the last six months didn’t help matters. For that matter, neither did David Einhorn butchering Erin Callan in private, public, explaining just how little she knew about the company she was CFO of, etc. I’m still not sure where I stand on LEH at this point. To some extent, they were scapegoats for the crisis - the only business failing too early to receive TARP money, but too late to be first in line for a shotgun wedding at the government’s urging (see: Bear Stearns). I have sympathy for a lot of the lower level employees, who didn’t particularly have a hand in the companies undoing, but I wonder if things would have turned out better if upper management had been more forthright about how bad their situation was and had been quicker to raise capital, etc. Ugh, just thinking about those few months makes me a little ill. Bad times. OP, what’s the context of your Fuld quote?
Tiger Woods was a sound husband
thommo77 Wrote: ------------------------------------------------------- > Tiger Woods was a sound husband Rosie O’Donnell was a sound dietician.
In a normal credit environment Lehman would have been absolutely fine. Their inability to tap the overnight repo/paper market coupled with the tens of billions in collateral calls they received pushed them under.
Sorry. Been busy. Quote came off Bloomberg wire during Fuld’s testimony to the Financial Crisis Inquiry Commission yesterday… He still thinks LEH was financially sound. I think he may have had an overconfidence bias.
charlottekid Wrote: ------------------------------------------------------- > I think he may have had an overconfidence bias. …that, and the “if-only” defense also comes into play…if only they could’ve found 700B, Lehman would’ve been the bestest company.
new BB headline, “Fuld’s Lehman ‘Peddled Junk’, Betrayed Firm’s Founders”
I remember Fuld saying “we are not bear stearns, and we are not screwed”
In previous life, Fuld was a Chinese h00ker, whole world screwed her, this time he came back to earth to screw the whole world, and he got it.