Monday, October 6, 2008

Not bad for being [email protected] at your job

Lehman Bros head took home $300m

The head of failed US investment bank Lehman Brothers has told Congress that he took home about $300m in compensation over the past eight years.

Posted by angonamo @ 08:34 PM (660 views)
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5 thoughts on “Not bad for being [email protected] at your job

  • We have poor people all over the globe and they have next to nothing, no doctors, no dentists, no fresh water, no quality food, no nice clothes, nothing to look forward to. Then we have the greedy glutonous worthless leaches that suck the world dry.

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  • Landedgentry says:

    “I feel horrible about what happened,” Really? if it were me with $300m i’d be honest and be off to the carribean on my luxury yacht with bikini chicks saying “see ya later suckers !” Oh yeah house prices, the “for sale” boards down our way has been up so long they are starting to grow mould.

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  • Retired Banker says:

    [email protected] at his job?, I would say more like “mission accomplished”.

    I could have destroyed Lehman Brothers for half of what they paid him.

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  • Not bad for being [email protected] at your job. Au contraire, his job was to enrich himself by any means (why else to people do this job – public service? oiling the wheels of finance to ensure money ends up in productive endeavours? ensuring Lehman remains viable? maintaining high ethical standards? worrying about the health of the economy and people’s lives? I don’t think so) and he was obviously good at it.

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  • But there won’t be any real contrition, no payback, no recourse.

    Fuld has his millions, ‘earned’ his money from a morally corrupt and short-sighted system. He is a physical face of much of the corruption, short-termism, self-indulgent and irresponsibility that has characterized finance over the last five decades.

    The financial system, egged on by countries’ central banks in turn egged on by countries’ government only have themselves to blame, including the UK.

    Could Lehman’s have made so much money in the UK if the Bank of England hadn’t mispriced credit risk too low (and astonishingly, continues to do so)? Doubt it.

    As my ex-boss used to say, when you point index finger, your three remaining fingers point straight back at you!

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