Again, when I read this story from Dealbreaker, the first thing I did was click through to make sure it wasn't an Onion article. Nope - NY Post. Then, I checked my calendar to see if it was an April Fool's prank... Nope again...
"He may be one of the most vilified men coming out of the financial crisis, but ex-Lehman Brothers boss Dick Fuld is feeling vindicated in the wake of last week's 2,200-page report by a court-appointed bank examiner, sources tell The Post.
Fuld privately believes that the report by examiner Anton Valukas provides proof that he did nothing illegal as he steered Lehman through a financial mess that ultimately led the firm to file the largest bankruptcy in US history, according to sources familiar with the matter.
Among Valukas' findings is that Lehman used an esoteric accounting practice known as "Repo 105," which allowed the firm to move toxic mortgage assets off its books in order to make it seem healthier.
But while Valukas in the report said that the Lehman estate has "colorable" claims against Fuld, former CFO Erin Callan, and other members of the financial team for not disclosing its use of the Repo 105 transactions, people in Fuld's camp think differently.
They say that if after poring over reams of documents and sifting through millions of e-mails, Repo 105 is the strongest example of Lehman's supposed shenanigans, Fuld & Co. are in good shape."
Here's me after reading that: Hmmm.... shaking head... tongue tied... not sure what to write... can't believe he's actually going this route...
To recap, Fuld's view now seems to be, "Hey mofo's - if the best you could do after tens of thousands of man hours of investigation is discover massive financial fraud on the part of my company, then SUCK IT! I Win!"