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Richard S Fuld

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BUSINESS
November 30, 1989 | PAUL RICHTER, TIMES STAFF WRITER
Battered by market weakness and its own blunders, Shearson Lehman Hutton announced Wednesday a reorganization that will demote Jeffrey B. Lane, the investment firm's current president and chief operating officer, and elevate a cadre of younger executives. The regrouping apparently makes Richard S. Fuld, 43, the leading candidate to eventually become Shearson's next president.
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BUSINESS
September 2, 2010 | By Jim Puzzanghera, Los Angeles Times
The former chief executive of Lehman Bros. came out swinging at federal officials Wednesday, blaming them for failing to give the beleaguered investment banking firm the extraordinary help it gave to its rivals — aid that would have saved it from the 2008 collapse that helped trigger the worldwide financial crisis. A defiant Richard S. Fuld Jr. sparred with Federal Reserve officials during a hearing before a congressionally appointed panel investigating the financial crisis.
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BUSINESS
September 2, 2010 | By Jim Puzzanghera, Los Angeles Times
The former chief executive of Lehman Bros. came out swinging at federal officials Wednesday, blaming them for failing to give the beleaguered investment banking firm the extraordinary help it gave to its rivals — aid that would have saved it from the 2008 collapse that helped trigger the worldwide financial crisis. A defiant Richard S. Fuld Jr. sparred with Federal Reserve officials during a hearing before a congressionally appointed panel investigating the financial crisis.
BUSINESS
November 30, 1989 | PAUL RICHTER, TIMES STAFF WRITER
Battered by market weakness and its own blunders, Shearson Lehman Hutton announced Wednesday a reorganization that will demote Jeffrey B. Lane, the investment firm's current president and chief operating officer, and elevate a cadre of younger executives. The regrouping apparently makes Richard S. Fuld, 43, the leading candidate to eventually become Shearson's next president.
BUSINESS
September 3, 2010 | By Jim Puzzanghera, Los Angeles Times
Federal Reserve Chairman Ben S. Bernanke said Thursday that there was no way for the government to rescue Lehman Bros. from failure in 2008 without a huge loss of taxpayer money, and that he should have been "more straightforward" when explaining the decision to Congress shortly afterward. Appearing before the federal panel investigating the financial crisis, Bernanke said his vague congressional testimony less than two weeks after Lehman's collapse had helped feed what he called a myth that the investment bank could have been saved.
BUSINESS
April 20, 2010 | Bloomberg News
Lehman Brothers Holdings Inc., which filed the biggest bankruptcy in U.S. history, violated its own risk-management rules with the knowledge of the U.S. Securities and Exchange Commission, a bankruptcy examiner said Monday. "We found that the SEC was aware of these excesses and simply acquiesced," Anton Valukas, the Lehman examiner, said in testimony to be presented in Washington tomorrow on policy issues arising from his 2,200-page report on Lehman‘s downfall. Valukas is scheduled to testify before the House Committee on Financial Services.
BUSINESS
February 9, 2011 | By Marc Lifsher, Los Angeles Times
The nation's largest public pension fund accused Lehman Bros. Holdings Inc., its former top executives and numerous bond underwriters of fraud and making materially false statements about losses from mortgage-backed securities during the financial crisis of 2007 and 2008. The claims are part of a lawsuit that the California Public Employees' Retirement System, which oversees a pension fund now valued at $229 billion, filed late Monday in U.S. District Court in San Francisco. While the lawsuit did not specify damages, it noted that CalPERS owned 3.9 million shares of Lehman common stock and about $700 million worth of Lehman bonds at the time that Lehman filed for bankruptcy protection in September 2008.
BUSINESS
May 19, 1990 | PAUL RICHTER, TIMES STAFF WRITER
Shearson Lehman Hutton, charting a new course after bruising losses and management turmoil, is expected soon to create separate units for its principal businesses of investment banking and retail brokerage. The investment firm, a unit of American Express, may give the new retail brokerage division the Shearson name, people close to the firm said Friday. The new investment banking division may be called Lehman Bros., after the respected investment house acquired by Shearson in 1984.
BUSINESS
March 17, 2010 | Michael Hiltzik
The bankruptcy of Lehman Bros. in September 2008 is widely seen as the event that kicked the financial meltdown into high gear. So it makes sense that the report released last week by Lehman's bankruptcy examiner should stand as the one indispensable analysis of how Wall Street almost brought the U.S. economy crashing down. The uncompromising report should put to rest the self-serving claims by Lehman's ex-Chairman Richard S. Fuld that the firm was destroyed by rumors, short selling, stock manipulation and an unwarranted loss of confidence by clients and trading partners.
BUSINESS
February 5, 2002 | WILLIAM S. ORME, TIMES STAFF WRITER
The protesters folded up their placards and drifted away from the barricades Monday as the World Economic Forum concluded the final sessions of its much-publicized five-day talkfest. Inside the heavily guarded Waldorf-Astoria Hotel, where their anti-globalization adversaries could not be seen, business leaders remained far more preoccupied with an unanticipated triple threat: Enron Corp., Argentina and Al Qaeda.
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