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Net Net: Promoting innovation and managing change

How Dick Fuld Prepared for His Big Day on Capitol Hill


So what did Dick Fuld do to prepare for his stunning Capitol Hill revelation that he thinks Lehman Brothers failed because policy makers had “flawed information?”

Richard Fuld
Getty Images

Fuld’s denial of responsibility for the failure of Lehman Brothers surely must have involved some form of below-the-hip-level enhancement. To tell the Financial Crisis Inquiry Commission that Lehman’s failure wasn’t due to its own mismanagement, certainly required that Fuld sport a huge set of…well, uhm…confidence enhancing attributes.

Our spies tell us that Fuld built up his strength for the performance by dining at the Palm earlier this week. And late last week he was at Keens Steak House. Apparently, Fuld needs all the steak he can get.

Who was he dining with at the Palm? We expected that he’d be with some kind of handler, someone prepping him for his FCIC testimony. We hoped to hear that Fuld was in the company of some other former Lehman executive, perhaps tipping back a martini with Erin Callan.

Nope. Fuld was eating dinner with his daughter. Which makes sense and is somewhat heart-warming: at least Fuld’s family will still publicly dine with him.