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Richard Fuld, Chairman & CEO of what is left of Lehman Brothers Holdings (LEHMQ) is currently testifying before the House Oversight Committee. Fuld’s answers and demeanor today may offer some valuable lessons for future CEO’s and executives who have to testify in front of oversight committees when their companies are failing or are in trouble.
We do not really subscribe to the notion that executive compensation is the major issue in troubled institutions nor do we subscribe to the notion that executives should generally be slammed over their compensation packages. Even if our markets are arguably no longer purely free markets, we are not yet in the world of pay caps.
