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Search - The Global Lehman Brothers Scandal: Richard S. Fuld, Jr. the Billionary Survivor

The Global Lehman Brothers Scandal Richard S Fuld Jr the Billionary Survivor
Author: Heinz Duthel

Lehman Brothers Richard S. Fuld, Jr. the Survivor The Love of Money to securities fraud Fuld was born in New York City, to Jewish parents, Richard Severin Fuld, Sr. and Elizabeth Schwab. Ultra high net worth individuals Ultra high net worth individuals (UHNWIs) are individuals or families who have, by one definition, at least US$30 m... more »illion in investable assets, or with a disposable income of more than US$20 million. The exact dividing lines depend on how a bank wishes to segment its market Banking and finance Most global banks, such as Credit Suisse, Barclays, BNP Paribas, Citibank, Deutsche Bank, HSBC, JPMorgan Chase and UBS, have a separate business unit with designated teams consisting of client advisors and product specialists exclusively for UHNWI. Because of their extreme high net worth and the way their assets were generated, these clients are often considered to have characteristics similar to institutional investors. Retail Brands in various sectors, such as Bentley, Maybach and Rolls-Royce in motoring, actively target UHNWI and HNWI to sell their products. Figures gathered by Rolls-Royce suggest there are 80,000 people around the world with disposable income of more than $20 million. They have, on average, eight cars and three or four homes. Three-quarters own a jet aircraft and most have a yacht. Richard Fuld, head of Lehman Brothers, faced questioning from the U.S. House of Representatives' Committee on Oversight and Government Reform. Rep. Henry Waxman (D-CA) asked: "Your company is now bankrupt, our economy is in crisis, but you get to keep $480 million (£276 million). I have a very basic question for you, is this fair?" Fuld said that he had in fact taken about $300 million (£173 million) in pay and bonuses over the past eight years. Despite Fuld's defense on his high pay, Lehman Brothers executive pay was reported to have increased significantly before filing for bankruptcy. On October 17, 2008, CNBC reported that several Lehman executives, including Richard Fuld, have been subpoenaed in a case relating to securities fraud. Lehman Brothers Henry Lehman Richard S. Fuld, Jr. A Colossal Failure of Common Sense Bankruptcy of Lehman Brothers Investment banking United States Treasury security Investment management Private equity Private banking Chapter 11, Title 11, United States Code Montgomery, Alabama World Resources Institute Middlebury College NewYork?Presbyterian Hospital New York University Stern School of Business Kuhn, Loeb & Co. American Express E. F. Hutton & Co. Gerald M. Loeb Citigroup Late-2000s financial crisis 1997 Asian financial crisis The Wall Street Journal Barron's (newspaper) Subprime mortgage crisis 2000s energy crisis Late-2000s recession Automotive industry crisis of 2008?2010 Dodd?Frank Wall Street Reform and Consumer Protection Act European sovereign debt crisis Financial Crisis Inquiry Commission Subprime crisis impact timeline United States housing bubble United States housing market correction Timothy Geithner Federal Reserve Bank of New York Bank of America The New York Times J. P. Morgan JPMorgan Chase Harvey R. Miller Weil, Gotshal & Manges Nomura Holdings Commercial mortgage-backed security The Bank of New York Mellon Mizuho Trust & Banking Freddie Mac Électricité de France Berkshire Hathaway Warren Buffett Hong Kong Association of Banks High-net-worth individual Accredited investor Bentley Maybach Rolls-Royce Motor Cars Global assets under management Report of Anton R. Valukas Bear Stearns Henry Waxman Ernst & Young Hudson Castle Group Inc. List of entities involved in 2007?2008 financial crises Federal takeover of Fannie Mae and Freddie Mac Aurora Bank Investment Bank Portfolio.com American City Business Journals Institutional investor

ISBN-13: 9781468132373
ISBN-10: 1468132377
Publication Date: 12/25/2011
Pages: 610
Rating:

0 stars, based on 0 rating

Publisher: CreateSpace
Book Type: Paperback
Members Wishing: 0
Reviews: Amazon | Write a Review

Genres:

Business & Money >> Industries >> Banks & Banking

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