Ex-Lehman CEO Denies Hearing Anything About Repo 105

Dick Fuld, former CEO of Lehman Brothers (LEHMQ), known as “The Gorilla” inside Lehman in its heyday, told the House Financial Services Committee chaired by Representative Barney Frank, that “Lehman and its people have been unfairly vilified.”

Fuld also said he had “absolutely no recollection whatsoever of hearing anything about Repo 105 transactions” while he was CEO of Lehman. “The first time I recall ever hearing the term “Repo 105” was a year after the bankruptcy filing, in connection with questions raised by the Examiner”, Fuld told the Committee.

Read the full statement of Dick Fuld before the Committee on Finacial Services »

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