Comments on: Former Lehman CEO Punched in the Face

By: SplendidMarbles

SplendidMarbles — Thu, 09 Oct 2008 13:50:09 +0000

I agree with you that the blame for this mess spreads from coast to coast. But I often hear that it was bad loans to poor people that started this disaster (why were so many of these loans made with such onerous requirements?). And what about all of the Option ARMs and Alt-A loans peddled to middle income buyers? In my opinion, it was the overall ignorance of risk that caused the credit bubble to grow and then burst. I wrote a piece last week explaining my position that the very same voters bitching to their representatives shared the blame. A mess this large would not have occurred without systemic failure throughout both government and private sectors. Finally, I think the CEOs should be held to account – much more so than the people on the lower rungs. That is what is wrong with this country today – no one seems to be punished for their f***ups. (By the way, politicians on both sides of the fence who either sat idly by or encouraged this s*** show should be run out of the DC swamp and into the woodshed.)

By: anonymous

anonymous — Wed, 08 Oct 2008 13:28:21 +0000

You can be upset with them for the golden parachutes, that was selfish and flat out wrong, but they did not cause the mess in the markets. It was under Clinton’s watch when Fannie Mae relaxed the loan requirements for new homeowners. It was a noble cause, but a stupid idea that caused this mess. When house prices were increasing at 10% a year, Lehman (along with a lot of other institutions) partook in the CDO investments to make money… the shareholders/employees didn’t seem to be complaining then. Had they or anyone else known what was around the corner, I doubt they would have continued to plan their own demise. Again, the millions that were paid out to the executives just before the house of cards fell down was absolutely wrong, but you cannot solely blame the CEO that the investments went to shit. Not only is Clinton, Fannie Mae, the rating agencies, and the mortgage lenders at fault, but so is the average Joe who was dumb enought to take out an interest-only loan that was 8x his salary. He’s as much to blame as anyone.

By: RW

RW — Tue, 07 Oct 2008 22:02:35 +0000

They need to be investigated and prosecuted. Let them spend all that money on an attorney.

By: betster17

betster17 — Tue, 07 Oct 2008 18:28:53 +0000

Punch them all out then stick em on street corners in nyc when it gets cold

By: Sarah Markowitz

Sarah Markowitz — Tue, 07 Oct 2008 18:20:00 +0000

They should get punched. I normally don’t like violence to solve problems, but Fuld is a crook. If he’s guilty he won’t go to Riker’s that’s for sure.