h1 style="text-align: center;"bRichard Fuldbr //b/h1h2 style="text-align: center;"bspan class="Apple-style-span" style="color: rgb(102, 0, 0);"Lehman Brother CEO Richard S. Fuld Jr./span/b/h2br /a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://graphics8.nytimes.com/images/2008/06/17/timestopics/fuld-190.jpg"img style="margin: 0pt 10px 10px 0pt; float: left; cursor: pointer; width: 144px; height: 182px;" src="http://graphics8.nytimes.com/images/2008/06/17/timestopics/fuld-190.jpg" alt="" border="0" //aNew York Magazine recently wrote up a very lengthy article on Richard Fuld, the CEO of Lehman Brothers who is blamed for driving the firm into the ground earlier this year. Here is a short excerpt from the article:br /blockquoteOn June 11, Richard S. Fuld Jr., CEO of Lehman Brothers, sat down to lunch with a half-dozen of Lehman’s senior investment bankers. Since the fall of Bear Stearns in March, Fuld had been struggling to keep “the mother ship,” as Fuld liked to call his firm, from taking on water, but with little success. The stock was sinking quickly. In just a few months, Lehman had given back ten ...

The markets have become a carnival, as volatility hits an all-time high. Here's a summary of the damage.

[Note: Due to an editorial error, a version of this blog was published that included incorrect YTD performance numbers for a variety of ETFs. The correct version of the blog follows below.] 

As the panic sets in, a carnival-like atmosphere emerged on Wall Street, as former Lehman CEO Richard S. Fuld Jr. showed no sorrow and accepted no blame for the Lehman Brothers collapse. He did take "full responsibility" while effectively taking no responsibility. And it emerged on CNBC that shortly after the collapse, someone at Fuld's gym punched him in the face.

Meanwhile, VIX, the CBOE volatility index, broke 50, the highest level it has reached in its 18-year history.

As the market dropped off a cliff, down into the netherworlds of the low 9000s, and then soared back

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After a weekend in which the deepening U.S credit crisis sent one top investment bank to bankruptcy court and a second into the arms of a “White Knight” suitor, U.S. stocks yesterday (Monday) recorded their worst day since the 9/11 terrorists attacks seven years ago. Indeed, the Dow Jones Industrial Average plunged more than 504 points, its biggest one-day point decline since Sept. 17, 2001 – the day the markets reopened for trading after the attacks on New York and Washington. Wall Street entered last weekend anticipating a government bailout of Lehman Brothers Holdings Inc. (LEH), but exited with Merrill Lynch & Co. Inc. (MER) agreeing to sell itself to Bank of America Corp. (BAC) for nearly $50 billion – and with Lehman announcing it will seek bankruptcy in a bid to avoid a total ...