Lehman CFO Comments On Firm's Shenanigans (LEHMQ)
March 12, 2010 12:40 PM
Today, Brad Hintz, a former Lehman Brothers (OTC:LEHMQ) CFO talked to Bloomberg Television's Erik Schatzker about a new report by U.S. bankruptcy-court appointed examiner Anton Valukas.
When Schatzker asked Hintz about former Lehman CEO Dick Fuld’s knowledge of the firm's financial engineering, Hintz said that Fuld was “very hands-on on the trading side.”
He went on to say, “Dick was a very forceful personality and could easily get into a situation where he's dominating the people around him.”
Hintz also commented on the report’s findings (or lack there of). He thinks that the balance sheets will tell the real story of Lehman Brothers.
Hintz didn’t make any firm statements about cash capital position of the debunked firm which he said operated “at about 31 times leverage, in terms of gross leverage.” He did however say, “the answer probably was not good."
