Waxman said that in January, Fuld and his board were warned the company's "liquidity can disappear quite fast."
Despite that warning, he said, "Mr. Fuld depleted Lehman's capital reserves by over $10 billion through year-end bonuses, stock buybacks, and dividend payments."
Waxman quoted Fuld as saying in one document, "Don't worry" to the suggestion that executives go without bonuses.
That suggestion came from Lehman's money management subsidiary, Neuberger Berman. Waxman quoted George H. Walker, President Bush's cousin and a Lehman executive who oversaw some Neuberger Berman employees, as responding with a dismissive tone to the idea of going without bonuses.
"Sorry team," he wrote to the executive committee, according to Waxman. "I'm not sure what's in the water at 605 Third Avenue today.... I'm embarrassed and I apologize."
Bastards. And I'm not interested in hearing more excuses for why we should protect these people... scumbags, one and all.
Quote:Bastards. And I'm not interested in hearing more excuses for why we should protect these people... scumbags, one and all.
Wait a minute Cyclo. You have yet to explain how a sound Darwinian theologian can do other than approve of those guys. It looks like you want to shove Darwin up the kids for no reason of principle. Just so you can say you shoved it up them is the only other explanation.
I feel quite confident in asserting that you would have been bang at it yourself given the chance. After all it does connote with getting at the fittest girls doen't it? Don't such creatures flock to those locations?
Does it come as a surprise to you that I disagree with you? That I would not take millions of dollars - that I didn't need - while my employees were left with nothing?
As far as tbe fittest girls go, Spendius, you know that POWER is as great an aphrodisiac as MONEY.