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Vikram Saxena » Comments » Single Comment
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I saw a graphic after that fateful weekend:
Oct 09 21:16 pm
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All Comments by Vikram Saxena »Browsing Through Lehman Emails [View article]
DIck Fuld: Long Term Investor
John Thain: Trader
I wish Lehman had injected some fresh blood into its Board or Senior Management so that they could see how bad things were becoming. At times of extreme stress, long term insiders can not detach themselves from the past, and internalize the implication of the present.
Fuld never understood how the game had changed with hedge funds, no uptick rule, blatant naked-shorting, and trend following computerized trading severely exaggerating any directional move in a nervous market.