TV News LIES

Friday, Apr 29th

Last update05:20:13 AM GMT

You are here News Economy Where Was Lehman’s Board?

Where Was Lehman’s Board?

E-mail Print PDF

Nine of them are retired. Four of them are over 75 years old. One is a theater producer, another a former Navy admiral. Only two have direct experience in the financial-services industry.

Meet the Lehman Brothers Holdings Inc. external board directors, a group of 10 people who, perhaps unknowingly, carried the health of the world’s financial system on their shoulders the past 18 months.

The board’s members include John Macomber, 80 years old, a former McKinsey & Co. consultant and chief executive of chemical-maker Celanese Corp; John Akers, 74, former IBM chief; Thomas A. Cruikshank, 77, chief executive of Halliburton Co. prior to Vice President Dick Cheney; and Henry Kaufman, 81. In the 1970s and ’80s, Kaufman, the chief economist at Salomon Brothers, was known as “Dr. Doom” for his bearish views on the U.S. economy. Ironically, in April, Mr. Kaufman termed the credit crisis a “global calamity” and criticized the Federal Reserve for “providing only tepid oversight of commercial banking.”

Other current members include: Sir Christopher Gent, 60, the one-time chief of mobile-phone company Vodafone PLC; theater producer Roger S. Berlind, 75; former Telemundo Chief Executive Roland Hernandez, 50; Michael Ainslie, 64, former chief executive of Sotheby’s Holdings; Marsha Johnson Evans, 61, one-time head of the Red Cross and a former Navy rear admiral.

Until 2006, Lehman’s board included Dina Merrill, the 83-year-old actress once featured in the old Katharine Hepburn movie “Desk Set,” as well as “Caddyshack II.”

How much was Lehman’s board monitoring the company’s on-going risk as it began accumulating its portfolio of real-estate assets and securities? In both 2006 and 2007, the risk committee of Lehman’s board met twice each year, according to Lehman’s SEC filings.

More...


Most Recent Related Stories...


SunEdison files for Chapter 11 bankruptcy protection

SunEdison files for bankruptsyU.S. solar energy company SunEdison Inc (SUNE.N) filed for Chapter 11 bankruptcy protection on Thursday, becoming...

U.S. regulators fail 'living wills' at five of eight big banks

5 big banks fail regulation testFive out of eight of the biggest U.S. banks do not have credible plans for winding...

US corporations have $1.4tn hidden in tax havens, claims Oxfam report

US corporations hide 1.4t in tax havensUS corporate giants such as Apple, Walmart and General Electric have stashed $1.4tn (£980bn) in tax...

Goldman Sachs to pay $5 billion in U.S. Justice Dept mortgage probe

Goldman SachsGoldman Sachs Group Inc (GS.N) has agreed to pay $5.06 billion to settle claims that it...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!