The Collapse of Lehman Brothers | Dick | 4
Business Movers
Wondery
4.8 • 1.5K Ratings
🗓️ 30 September 2021
⏱️ 43 minutes
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Summary
Lehman’s last hope is a potential acquisition, but Dick Fuld’s ego gets in the way, and sends the firm down its ultimate path of destruction.
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Transcript
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| 0:31.0 | It's the 1980s, decades before the Lehman Brothers bankruptcy. |
| 0:36.0 | Richard Dickfold, the future CEO, hurries through the halls of Lehman headquarters a piece of paper in his hand. |
| 0:43.0 | Dick is on his way to his boss's office to seek approval for a trade. |
| 0:47.0 | It's potentially lucrative but risky. |
| 0:50.0 | Dick's a fixed income trader, but doesn't have the authority to make the transaction on his own. |
| 0:55.0 | He needs his boss, senior executive Alan Kaplan to sign off. |
| 0:59.0 | Dick likes to move fast and take big risks, but his boss is far more conservative and restrained. |
| 1:05.0 | Two qualities Dick doesn't have time for right now. |
| 1:08.0 | If he doesn't secure Alan's approval immediately, he'll lose the opportunity. |
| 1:14.0 | Excuse me, Mr. Kaplan? |
| 1:16.0 | Alan Kaplan sits at his neatly organized desk, smoking a cigar and pouring over a stack of documents. |
| 1:24.0 | As Dick steps inside his office, Alan doesn't even look up. |
| 1:27.0 | Dick clears his throat and tries again. |
| 1:30.0 | Sir, I need you to sign this. It's the trade we talked about this morning. |
| 1:34.0 | Dick holds out the piece of paper. |
| 1:36.0 | I'll leave it on my desk. I'll get to it when I'm finished with these. |
| 1:39.0 | Alan gestures to the very large stack of documents. |
| 1:42.0 | This is time sensitive, sir. |
| 1:44.0 | This time Alan stops working and looks up at Dick. |
... |
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