There are two ways to react to the biblically proportioned report that Lehman Brothers’ bankruptcy examiner released last Friday, which over its 2,209 pages (not counting appendices) has echoes of Grisham, Orwell and Ayn Rand.
The first is to lose faith in man. As it reveals, Lehman turns out to have used a secretive and Read More
Former C.F.O. Brad Hintz went on Bloomberg Television today to talk about the 2,000-page autopsy of Lehman Brothers, which appears to have overdosed on a drug-like accounting practice ominously called Repo 105.
“I would call it shenanigans,” said Mr. Hintz, who also pointed out that the company was severely leveraged. Repo 105 essentially Read More
If Schnabel, Sting, Astor and friends sell apartments, look out! Luxury might be back. Read More
In January 2007, when Kathleen and Dick Fuld spent $21 million on a full-floor, 16-room, five-fireplace, four-bedroom co-op at 640 Park Avenue, their lives were beautiful.
Lehman Brothers had just announced it would be giving Mr. Fuld, its chief executive, $186 million in stock over the next decade, so it made sense that his new Read More
"Study for Agony I" is one of four Arshile Gorkys, three William de Koonings, five Barnett Newmans and four Agnes Martins that Kathy Fuld, wife of Lehman chief executive Dick Fuld, has hired Christie’s to auction off, according to reports by Bloomberg news and The New York Times.
While the timing Read More