Sixteen years after the collapse of Lehman Brothers, Richard Handel, CEO of Jeffrey, participated, the email he sent to the former CEO of the bank, Richard “Dick” Fuld, on the day the company advanced for bankruptcy in the history of the United States.
In a series of Instagram The jobs, the processor, revealed the exchange with FULD, which occurred before Liman’s fall directly to the global economy to a tail.
“I met you very shortly, and although there is absolutely no help for you, I want you to know that I was always in awe of the company I built,” Handler wrote to Fuld three days before the collapse. He added that he “designed a lot of Jeffrez” on the financial giant.
On September 15, 2008, when Lehman Brothers applied for bankruptcy with more than $ 600 billion of debt, Handler sent a final email to FULD: “I am very sorry for you and the private company that I created.”
Fuld responded two weeks later, and thanked his therapist for “Note of Support” and “to think about me (and) the company.
What did Wall Street know from Lehman Brothers?
Lehman Prades, the 158 -year -old, who survived the Wall Street crash in 1929, was “too big to fail.” at that time , Jeffrez Group It was an increased investment bank, as the processor recently took leadership.
Thinking about the collapse, Handler said the crisis provided “lessons to save life”, including that “arrogance always kills” and “will continue life”.
By 2009, Jefferies turned from a small shop to a A main dealer at the Federal Reserve in New YorkAllow her to participate in buying securities and selling them in the open market-free to federal reserves.
Ten processor lessons:
1. There is nothing like the “slight liquidity crisis”
2. Everything in life is fragile
3. Sometimes bad things happen to good people
4. Do not take anything or anyone who is rejected by it
5. The leverage cannot be distinguished between good or bad, but it will work happily (enlarge)
6. You don’t have much time as you think
7. The character is determined during difficult times
8. Dhorship is always killed
9. If debt holders are in danger, the shareholders are likely to be eliminated
10. If it remains positive during the storm, the sun always rises in the end, and life will continue.
See email exchange
Where is Dick Fold now?
Fuld Lyman ran for 14 years before the bank’s collapse.
In the following years, he was born again and again I blame the government (And they pushed them very aggressive to increase the ownership of the houses) for Lehman’s death, before they have some.Bad rulings“After years.
Although it is self -known “The most hated man in AmericaFold has still succeeded in maintaining a profession in the financial industry.
Today, the 78 -year -old runs the Matrix Private Capital Group, which provides investment advice to “high -value” clients.
In his first (and last) speech since the financial collapse, in 2015, Fuld said: “Whatever it is, enjoy the ride. We do not regret.”
A copy of this story was originally published on Fortune.com On September 16, 2024.
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This story was originally shown on Fortune.com
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