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Richard S. Fuld, Jr.
Richard Severin Fuld Jr. (born April 26, 1946) is an American banker best known as the final chairman and chief executive officer of investment bank Lehman Brothers. Fuld held this position from April 1, 1994 after the firm's spinoff from American Express until September 15, 2008. Lehman Brothers filed for bankruptcy protection under Chapter 11 on September 15, 2008, and subsequently announced the sale of major operations to parties including Barclays Bank and Nomura Securities. Fuld was named in ''Time'''s "25 People to Blame for the Financial Crisis" list and in CNN's "Ten Most Wanted: Culprits of the Collapse". Fuld was nicknamed "the gorilla" for his intimidating presence. Early life and education Fuld was born to Jewish parents, the son of Richard Severin Fuld Sr. He is a second cousin of professional baseball player and executive Sam Fuld. He attended Wilbraham & Monson Academy, where he gained his high school diploma. He received both a B.A. and B.S. in 1969 from the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lehman Brothers
Lehman Brothers Inc. ( ) was an American global financial services firm founded in 1850. Before filing for bankruptcy in 2008, Lehman was the fourth-largest investment bank in the United States (behind Goldman Sachs, Morgan Stanley, and Merrill Lynch), with about 25,000 employees worldwide. It was doing business in investment banking, equity, fixed-income and derivatives sales and trading (especially U.S. Treasury securities), research, investment management, private equity, and private banking. Lehman was operational for 158 years from its founding in 1850 until 2008. On September 15, 2008, Lehman Brothers filed for Chapter 11 bankruptcy protection following the exodus of most of its clients, drastic declines in its stock price, and the devaluation of assets by credit rating agencies. The collapse was largely due to Lehman's involvement in the subprime mortgage crisis and its exposure to less liquid assets. Lehman's bankruptcy filing is the largest in US history, having ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wilbraham & Monson Academy
Wilbraham & Monson Academy (WMA) is a private college-preparatory school in Wilbraham, Massachusetts. Founded in 1804, it is a four-year boarding and day secondary school. It offers grades 6–12 and a postgraduate year. The School is located in the center of the town of Wilbraham, from Boston and from New York City. Notable alumni * Henry Barnard (1811–1900), educator * Alfred Ely Beach, inventor, publisher, and patent lawyer * Rick Bennett, NHL ice hockey player and college coach * Mary Ann Booth (1843–1922), microscopist * Henry Billings Brown, associate justice of the US Supreme Court. Wrote majority opinion for '' Plessy v. Ferguson '' * Tyrell Burgess, Bermudian professional soccer player with Vancouver Whitecaps FC * Kraisak Choonhavan, member of Thailand Senate for Nakhon Ratchasima Province (2000–2006); former chairman of the Thai Senate's Foreign Relations Committee * Russell H. Conwell, minister and founder of Temple University - 1859 * Winthrop Mur ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1997 Asian Financial Crisis
The 1997 Asian financial crisis gripped much of East Asia, East and Southeast Asia during the late 1990s. The crisis began in Thailand in July 1997 before spreading to several other countries with a ripple effect, raising fears of a worldwide economic meltdown due to financial contagion. However, the recovery in 1998–1999 was rapid, and worries of a meltdown quickly subsided. Originating in Thailand, where it was known as the ''Tom yum, Tom Yum Kung crisis'' () on 2 July, it followed the financial collapse of the Thai baht after the Thai government was forced to floating currency, float the baht due to lack of list of circulating currencies, foreign currency to support its currency fixed exchange rate, peg to the U.S. dollar. Capital flight ensued almost immediately, beginning an international chain reaction. At the time, Thailand had acquired a burden of foreign debt. As the crisis spread, other Southeast Asian countries and later Japan and South Korea saw slumping currencies, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kuhn Loeb
Kuhn, Loeb & Co. was an American multinational investment bank founded in 1867 by Abraham Kuhn and his brother-in-law Solomon Loeb. Headed from 1885 onwards by Jacob H. Schiff, Loeb's son-in-law, it grew to be one of the most influential investment banks in the late-19th and early-20th centuries, financing America's expanding railways and growth companies, including Western Union and Westinghouse, and thereby becoming the principal rival of J.P. Morgan & Co. In the years following Schiff's death in 1920, the firm was led by Otto Kahn (died 1934) and Felix Warburg (died 1937), men who had already solidified their roles as Schiff's able successors. However, the firm's fortunes began to fade following the end of World War II in 1945—it failed to keep pace with a rapidly changing investment-banking industry, in which Kuhn, Loeb's old-world, genteel ways, did not seem to fit; the days of the gentleman-banker had passed. The firm lost its independence from the Bulge Bracket ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commercial Paper
Commercial paper, in the global financial market, is an Unsecured debt, unsecured promissory note with a fixed Maturity (finance), maturity of usually less than 270 days. In layperson terms, it is like an "IOU" but can be bought and sold because its buyers and sellers have some degree of confidence that it can be successfully redeemed later for cash, based on their assessment of the credit risk, creditworthiness of the issuing company. Commercial paper is a Money market, money-market security (finance), security issued by large corporations to obtain funds to meet short-term debt obligations (for example, payroll) and is backed only by an issuing bank or company promise to pay the face amount on the maturity date specified on the note. Since it is not backed by Collateral (finance), collateral, only firms with excellent credit ratings from a recognized credit rating agency will be able to sell their commercial paper at a reasonable price. Commercial paper is usually sold at a di ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wall Street Journal
''The Wall Street Journal'' (''WSJ''), also referred to simply as the ''Journal,'' is an American newspaper based in New York City. The newspaper provides extensive coverage of news, especially business and finance. It operates on a subscription model, requiring readers to pay for access to most of its articles and content. The ''Journal'' is published six days a week by Dow Jones & Company, a division of News Corp. As of 2023, ''The'' ''Wall Street Journal'' is the largest newspaper in the United States by print circulation, with 609,650 print subscribers. It has 3.17 million digital subscribers, the second-most in the nation after ''The New York Times''. The newspaper is one of the United States' newspapers of record. The first issue of the newspaper was published on July 8, 1889. The editorial page of the ''Journal'' is typically center-right in its positions. The newspaper has won 39 Pulitzer Prizes. History Founding and 19th century A predecessor to ' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Robert Lehman
Robert Owen Lehman Sr. (September 29, 1891 – August 9, 1969) was an American banker, longtime head of the Lehman Brothers investment bank, and a racehorse owner, art collector, and philanthropist. Life and career Lehman was born to a Jewish family in New York City. He was the son of Philip Lehman (1861–1947) and grandson of Emanuel Lehman, a cofounder of Lehman Brothers investment bank, and Carrie Lauer (1865–1937). He graduated from Hotchkiss School in 1908 and was a 1913 graduate of Yale University, where he was a member of Delta Kappa Epsilon fraternity (Phi chapter). When his father retired in 1925, "Bobbie" Lehman assumed the leadership role of the family-owned business. He took over the bank during a time when Lehman Brothers, like its competitors Goldman Sachs and Morgan Stanley, was essentially a one-office firm. While sound financial principles were essential, Robert Lehman was often quoted as saying that he "bet on people." One of those people he bel ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Senior Partner
A partnership is an agreement where parties agree to cooperate to advance their mutual interests. The partners in a partnership may be individuals, businesses, interest-based organizations, schools, governments or combinations. Organizations may partner to increase the likelihood of each achieving their mission and to amplify their reach. A partnership may result in issuing and holding equity or may be only governed by a contract. History Partnerships have a long history; they were already in use in medieval times in Europe and in the Middle East. According to a 2006 article, the first partnership was implemented in 1383 by Francesco di Marco Datini, a merchant of Prato and Florence. The Covoni company (1336–40) and the Del Buono-Bencivenni company (1336–40) have also been referred to as early partnerships, but they were not formal partnerships. In Europe, the partnerships contributed to the Commercial Revolution which started in the 13th century. In the 15th century the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Air Force
The United States Air Force (USAF) is the Air force, air service branch of the United States Department of Defense. It is one of the six United States Armed Forces and one of the eight uniformed services of the United States. Tracing its origins to 1 August 1907, as a part of the United States Army Signal Corps, the USAF was established by transfer of personnel from the Army Air Forces with the enactment of the National Security Act of 1947. It is the second youngest branch of the United States Armed Forces and the fourth in United States order of precedence, order of precedence. The United States Air Force articulates its core missions as air supremacy, intelligence, surveillance, target acquisition, and reconnaissance, global integrated intelligence, surveillance and reconnaissance, airlift, rapid global mobility, Strategic bombing, global strike, and command and control. The United States Department of the Air Force, Department of the Air Force, which serves as the USAF's ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kappa Beta Phi
Kappa Beta Phi () is a secret society with at least one surviving chapter, based on Wall Street in New York City, that is made up of high-ranking financial executives. The purpose of the organization today is largely social and honorific. The current honor society meets once a year at a black-tie dinner to induct new members. History Members were told that the society was established as an alternative to Phi Beta Kappa to allow young men to meet and share ideas in an atmosphere of pub conviviality rather than more formal and elitist salon discussions; its reversed Greek letters were purportedly chosen to reinforce the contrast. To decipher the group's actual founding and provide context, university yearbooks began as student publications, often organized by fraternities with the result that the Greek Letter organizations gained prominent billing in the books, along with athletics and other clubs, and often, printed extensive humor sections. The joking, at times rendered in poetic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bloomberg L
Bloomberg may refer to: People * Daniel J. Bloomberg (1905–1984), audio engineer * Georgina Bloomberg (born 1983), professional equestrian * Michael Bloomberg (born 1942), American businessman and founder of Bloomberg L.P.; politician and mayor of New York City (2002–2013) * Ramon Bloomberg (born 1972), American artist and film director Other uses * Bloomberg L.P., financial news and media company founded by Michael Bloomberg ** Bloomberg News Bloomberg News (originally Bloomberg Business News) is an international news agency headquartered in New York City and a division of Bloomberg L.P. Content produced by Bloomberg News is disseminated through Bloomberg Terminals, Bloomberg T ..., a news agency ** '' Bloomberg Businessweek'', weekly business magazine and website ** '' Bloomberg Markets'', a monthly financial magazine ** Bloomberg Radio, a business radio network ** Bloomberg Television, a business news channel *** Bloomberg TV Canada *** Bloomberg TV ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stern School Of Business
The Leonard N. Stern School of Business (also NYU Stern, Stern School of Business, or simply Stern) is the business schools, business school of New York University, a private university, private research university based in New York City. Founded as the School of Commerce, Accounts and Finance in 1900, the school received its current name in 1988. Stern is a founding member of the Association to Advance Collegiate Schools of Business. Established as the School of Commerce, Accounts and Finance, the school changed its name in 1988 in honor of Leonard N. Stern, an alumnus and benefactor of the school. The school offers Bachelor of Science in Business at the Undergraduate education, undergraduate level and Master of Business Administration degrees at the Postgraduate education, postgraduate level. The school is located on Gould Plaza next to the Courant Institute of Mathematical Sciences and the economics department of the New York University College of Arts & Science, College of Ar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
