Emails Show Lehman Executives Poor Response To Crisis

Bloomberg provides summaries of emails (via Manan Shukla) that illustrate the attitudes that prevailed at Lehman Brothers prior to its collapse.  Lehman's CEO,  received $500 million in compensation in the prior 5 years from shareholders for his management expertise in the short term. They  saw their equity disappear rapidly when Fuld's inaction led to bankruptcy.  He was in Chicago playing in a bridge tournament during the fatal last days.