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09-13-2009, 02:31 PM #1
Where the [Wall Street] Players Landed
Where the [Wall Street] Players Landed
September 13, 2009
New York Times
One year after the worst week of the financial crisis, some of the most famous names on Wall Street are still looking for jobs or fighting lawsuits.
Richard S. Fuld Jr.
THEN As the long-time chief executive of Lehman Brothers, he made a big push to diversify the firm’s business mix. By 2007, it had accumulated a significant portfolio of risky real estate. When the credit crisis hit, the government refused to extend to Lehman the same aid it would later offer to other banks, like Goldman Sachs and Morgan Stanley. Lehman declared bankruptcy on Sept. 15, 2008.
NOW Many of his friends told him to sit it out and let the storm pass. Others told him to get back in and fight. He took the latter’s advice and last spring founded a corporate advising firm, Matrix Advisors, where he has a staff of three: his two assistants from Lehman and a junior associate.
Friends and former colleagues say he has been “devastatedâ€
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