Business

Fallen ex-Lehman CEO Dick Fuld hits comeback trail

Wall Streetā€™s gorilla wants back in the jungle.

Richard ā€œDickā€ Fuld, the notoriously competitive CEO who led Lehman Brothers to its demšŸ’™ise seven years ago, will test how forgiving Wall Street can be on Thursday whź§‚en heā€™s expected to discuss for the first time the bankruptcy that was the tipping point of the financial crisis.

Indeed, Fuld, 69, is one of the chief culprits of the 2008 crisis. He and Countrywide Financial CEO Angelo Mozilo built up their respective companiesā€™ positions ināœƒ the subprime mortgages that eventually went bust ā€” taź§‘king the economy with them.

And while Thursdayā€™s speech wonā€™t be his firstšŸ’Æ public appearance ā€” he has a consulting company and spoke at a college earlier this year ā€” itā€™s telling that heā€™s chosen a conference on penny stocks to tell his side of the story.

ā€œIn DickšŸ…· Fuldā€™s case, I think it was, to a degree, an unfair outcome,ā€ Joseph Grano, the former chairman and CEO of UBS Financial Services, told The Post. ā€œI can tell you that among the people who know him, heā€™s not toxic at all.ā€

During the weeks leading up to Lehmanā€™s Sept. 15, 2008, bankruptcy filing, Ben Bernanke, then chairman of the Fed, Henry Paulson, the Treasury secretary, and Timothy Geithner, head of the New York Fed, had tried to get Barclays and Bank of America to buy tź©µhe ailing Lehman, but eventually letšŸ’§ the firm collapse without a bailout.

Fuldā€™s defenders say the bank wasnā€™t bankź©µrupt and simply faced a short-tešŸ„‚rm cash crisis ā€” a distinction that didnā€™t make a difference for the largest bankruptcy ever in the US for the $600 billion institution.

But if Fuld finds his way back inšŸ’®to finaź¦nce, heā€™ll discover that todayā€™s Wall Street is in many ways a reaction against the Lehman collapse.

Still, if Fuld can make it back into the publicā€™s good graces atšŸŒø all, it will be a long climb, Grano said.

ā€œHeā€™s a little bit of a poster child,ā€ Grano addešŸŒŒd. ā€œAnd do I think itā€™s a bit unfair? Yes.ā™‘ā€