One year after the implosion of Lehman Brothers, is formerCEO Richard Fuld is saying he is just a victim. In an exclusive interview with Reuters, Fuld has refused to apologize for taking such an enormous salary ($354 million in five years) to have run his company into the ground. He also refuses to apologize for his hubris in the face of financial disaster. At the time, Fuld refused to acknowledge that Lehmans was in difficulty. That was despite frequent warnings from leading analysts. Had he acted sooner, he would have been able to avoid bankruptcy, or at least sell out.
But here, he tells Reuters reporters that he is being victimized. Fuld says: "I've been pummeled, I've been dumped on, and it's all going to happen again. I can handle it. You know what, let them line up."
The arrogance and lack of remorse is breath-taking but not surprising. Wall Street is like that.
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