Fishman, “Burning Down His House,”
9 supposed to be in India: Susanne Craig, “Lehman Finds Itself in Center of a Storm,”
11 rumors were rampant that ING: Ibid. When asked about these rumors, an ING spokeswoman said the company would continue to offer funds but will be looking “more carefully at risk and collateral.”
11 Gregory, who lived in Lloyd Harbor: Lloyd Harbor was Gregory’s primary address, but he owned several other properties, including a 2.5-acre oceanfront estate in Bridgehampton and an apartment at 610 Park Avenue on Manhattan’s Upper East Side. See Michael Shnayerson, “Profiles in Panic,”
11 helicopter for his daily commute: Ibid.
11 missed his son’s lacrosse game: Craig, “Lehman Finds Itself,”
12 “Do we have some stuff”: Fuld, as quoted by the
12 He had led Lehman through the tragedy and subsequent disruptions of 9/11: A few days after 9/11, with Fuld leading the way, the firm relocated to the Sheraton Manhattan hotel in Midtown, where desks replaced beds and the cocktail lounge became the global finance group’s base of operations. Eight months later, in April 2002, Lehman moved into its new headquarters. See Andy Serwer, “The Improbable Power Broker: How Dick Fuld Transformed Lehman from Wall Street Also-Ran to Super-Hot Machine,”
12 buying this new tower from Morgan Stanley: In October 2001, Morgan Stanley sold its office building, located on Broadway and West Forty-ninth Street, to Lehman Brothers for $700 million. Charles V. Bagli, “Morgan Stanley Selling Nearly Completed Office Tower to Lehman for $700 Million,”
13 “We’ve been characterizing Lehman Brothers”: Joe Kernen,
13 DBS Group Holdings: The memo, however, didn’t mention closing any existing accounts with the firms. Patricia Kowsmann, “DBS Not Entering New Positions with Lehman-Sources,” Dow Jones Newswires, March 17, 2008.
13 Moody’s reaffirmed its A1 rating: Craig, “Lehman Finds Itself,”
14 “It’s paving the road with cheap tar”: Fuld, as quoted by Yalman Onaran and John Helyar, “Lehman’s Last Days,”
15 “Lehman may have to follow Bear into the confessional ”: McCarty, as quoted by David Cho and Neil Irwin, “Crises of Confidence in the Markets; Federal Reserve’s Rescue of Bear Stearns Exposes Cracks in Financial System,”
15 “Bear Stearns’s demise”: Ibid.
15 “I don’t think we’re going bust this afternoon”: This was reported by Andrew Gowers, and while attributed to “the boss” in the
16 “I don’t care who you are”: Fuld, as reported by Gary Silverman and Charles Pretzlik, “R ichard Fuld—A Cunning Player Shows His Hand,”
16 As he fumed to the
17 “We learned we need a lot of liquidity”: Fuld, in an interview with Craig, “Lehman Finds Itself,”
17 white paper he presented in Davos: Russo’s presentation, titled “Credit Crunch: Where Do We Stand?,” was originally given at the Group of Thirty meeting on November 30, 2007. He updated the paper for the World Economic Forum in January 2008. See http://www.group30org/pubs/pub_1401.htm.
17 for $21 million were finished: A broker told the
18 he joined the Reserve Officers’ Training Corps: Fuld ’s ROTC recruitment has been reported previously by various publications, including the
19 United Merchants & Manufacturers: “Jacob W. Schwab, 89, Textile Manufacturer,”
19 Fuld’s Lehman internship: Justin Schack, “Restoring the House of Lehman,”
19 “I truly stumbled into investment banking”: Schack, “Restoring the House,”
19 magnificent 1907 Italian Renaissance building: Ann Crittenden, “Lehman’s Office Move Marks End of an Aura,”
20 “He didn’t let his emotions get the best of his judgment”: Edward Robinson, “Lehman’s Fuld, a Survivor, Now Eyes Investment Banking Business,”
