Home Opinion Columnists Elaine C Smith

Punters are paying for Fuld's gold

Oct 12 2008 Elaine C. Smith

THE barefaced cheek of Dick Fuld, head of bankrupt Lehman Brothers, is jaw dropping.

He has homes and paintings worth millions and earned half a billion dollars in eight years yet when the firm collapses he takes no financial responsibility.

People who got massive payouts should pay a million each to those at the bottom or to the government to help pay off the bills.

The problem is our government has no power to stop big bonuses. And authorities in the financial world are afraid of these powerful firms.

They'll go quiet for a bit but the payouts will continue while Joe Public pays for them.

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