What a Dick!


ex-Lehman CEO Dick Fuld

In the eyes of many people affected by the financial collapse of 2008, ex-Lehman Brothers CEO Dick Fuld is, well, his own first name.  They do not like the man.  But where is he now?

It seems like Mr. Fuld is staying relatively quiet in the world; this is slightly by choice and also because the world doesn’t want to hear him anymore.  Since the collapse of Lehman Brothers, Dick Fuld has stepped down as CEO and now has a completely different lifestyle.  Once a life full of luxuries and wealth at the top, Fuld is now a relatively hated man who is blamed for the Great Recession.  After being unemployed for a quarter of a year, Fuld finally got work in April of 2009 when he established Matrix Advisors.  This company was designed to consult companies on how to raise capital and mergers and acquisitions.  Some reports had Fuld working 260 hours of work a month at the firm at all hours of the day.  Then, as a way to try to keep his securities license valid, Fuld registered with Legend Securities.  Eventually, he “voluntarily” left Legend when he couldn’t get his state license or bring any business to the company.  So currently Dick Fuld is no longer an employee of Wall Street.

What else is happening in his life?  Well, he is wrapped in a severe amount of litigations involving the collapse.  For example, former debt and equity holders are leading a lawsuit against Lehman and the executives claiming they were given false or excluded important information.  Even though he is attempting to lay low, he HAS been spotted at a hockey game within the past year:

Dick Fuld Sitting at a Hockey Game (Black Suit)

The positive outcome of this hockey match is that he didn’t get physical with anyone this time.  To me, Fuld had no other choice but to go into hiding essentially.  His small business of Matrix Advisors at least keeps him busy.  I don’t think ANYONE would really want to see his face again anywhere near Wall Street for the next few years (or decades).  I think he is giving the people what they want…and they don’t want Dick.  Without licensing or positive relationships, Fuld will probably never get a job on Wall Street again.  A man with that many enemies shouldn’t really show his face.  For example, it is rumored Fuld was knocked out while running on the treadmill in the Lehman gym.  Granted it was at the time of the bankruptcy announcement, but he is clearly not a liked individual.  In the spirit of the American people, I leave you with this game so you can also enjoy the sweet, sweet pleasures of bashing the face of financial collapse:

Enjoy beating up Dick Fuld

Extra sources: Source 1 & Source 2

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5 thoughts on “What a Dick!

  1. I enjoyed reading this article because it showed that unethical practices do have consequences. I think that Dick Fuld is deserving all of the negative attention that he is receiving. His inability to get his state license or bringing in big clients shows how much his actions being the CEO of Lehman hurt the public. It is very interesting to see how the CEOs of big companies that affected the financial crisis turned out differently. I wrote about John Thain, former CEO of Merrill Lynch, and he is a CEO of a company now. He still is fully employed and enjoying the perks of being a CEO. While at the same time other CEOs are dead, in prison, or in Fuld’s case struggling to live in a world that mostly hates him. I am glad that some CEOs are realizing the extent of their unethical actions. I liked that game too!

  2. Dick Fuld used to be a Wall Street god. You said that he “used to live a life full of luxuries and wealth at the top” and that made me start to think about what sort of wealth he currently has. Sure, he doesn’t have a high-profile job anymore, but I highly doubt he is living in poverty. He is “hiding out” probably in much better conditions than most American citizens are living in.

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