Truly gutless testimony today from Richard Fuld, the empty suit responsible for driving Lehman Bros. and a slice of the economy into the proverbial ditch. A few minutes after testifying that he stood ready to accept "full responsibility" for Lehman's utter failure, he refuses, in response to direct questions, to acknowledge that Lehman had either a liquidity problem or was overleveraged. Spare me the b-school rationalization, I beg you sir.
In the glory days of Rome, a disaster on this scale would have required suicide on the part of the malfeasant. Failing this, execution or assasination. In Carthage, they used to crucify their Generals after serious defeats. You want to talk about incentive bonuses? - Carthage had a doozy of a program. Next time you watch one of these wing-tip wearing barnacles bloviating on C-Span, try to visualize one of them screaming his lungs out on a cross-tree....I guarantee a smile.
Sixth Day of Christmas 2025: The Burning Babe
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As I in hoary winter’s night stood shivering in the snow,
Surpris’d I was with sudden heat which made my heart to glow;
And lifting up a fearful eye to...
45 minutes ago


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