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Lehman's Fuld: Where Was Our Bailout?

Richard Fuld, the disgraced head of Lehman Brothers <LEHMQ.PK>, said he would wonder "until they put me in the ground" why the U.S. government did not rescue the 158-year-old Wall Street firm and claimed regulators knew the full scale of its condition far before its collapse.

"Until the day they put me in the ground I will wonder," Fuld said in his first public comments since Lehman filed for bankruptcy protection. "I do not know why we were the only one" that was not rescued.

http://www.nytimes.com/reuters/business/business-us-financia...

Lehman Managers Portrayed as Irresponsible

Even as the investment bank Lehman Brothers pleaded for a federal bailout to save it from bankruptcy protection, it approved millions of dollars in bonuses for departing executives, a Congressional committee was told Monday.

One Lehman document among thousands reviewed by the House committee showed that four days before the bank filed for bankruptcy protection, Lehman’s compensation committee was asked to grant $20 million in “special payments” for three executives who were leaving, Mr. Waxman said. An e-mail exchange recommending a delay in bonus payments was apparently brushed aside.

http://www.nytimes.com/2008/10/07/business/economy/07lehman....

Lehman spent $5 billion in executive bonuses, $4 billion in stock buybacks, and another $750 million in dividend payments in the last year, even as the company was being warned by its own internal auditors that it was facing a liquidity problem.
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