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Un-Jailed Americans Part II

By JAY DODGE

Richard Fuld, CEO Lehman Brothers

 

This brave American hero earned nearly half a billion dollars for 15 years work, and all he had to do was cause the collapse of both his 158 year old Wall Street institution and the worldwide economy.  

Under Fuld, Lehman used accounting tricks to hide its liabilities and overvalue its holdings, right up until the its collapse. Despite widespread concerns both inside the company and out, his people assured investors that everything was great… even though they knew it wasn't. Brilliant!  

Fuld has not been prosecuted for accounting fraud, stock manipulation, nor any of his misdeeds.  In fact, when questioned by Congress, he played the perfect game of "pass the buck," blaming everyone from the media to short-sellers, the government, and a run on the bank.  Given time, he probably would've blamed repressed memories, Hurricane Katrina, 9/11, and the Senior Vice President of Scapegoating.

Also, he's not in jail. 

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P Magazine