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Fuld Earned $200m More Than He Stated

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Lloyd Blankfein sure will be happy to see the focus turn back to former Lehman chief Dick Fuld. FT Alphaville reports on a Bloomberg story that's not yet available online that shows that Fuld earned significantly more than he stated to Congress. "While Fuld said he earned less than $310 million from 2000 through 2007, he actually had received $529.4 million, according to Budde’s calculations. In direct contradiction to Fuld’s claim to Waxman that he had not sold the majority of his shares, Budde estimates that Fuld earned $469 million from stock sales between 2000 and 2008. These calculations are supported by the working paper from a Harvard University study that was made public late last year and is scheduled to be published this summer in the Yale Journal on Regulation."
SOURCE:   FT Alphaville

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