they sid on the news that he was approached and punched in the face at the Lehman gym
I wouldn't be surprised. At the meeting he tried to justify his 600 million in stock options by saying (1) he "only" received a cash compensation (salary) of 60 million and (2) He lost out on 200 million in options because the company went bankrupt.
One of the members of the house asked him... "Who was reponsible for allowing him to take all that money in compensation?" He responded, "The executive compensation committee". The house member then asked, "Who selected the members of the executive compensation committee?". Fuld mentioned another committee (I can't remember the name of the committee) for selecting the members of the executive compensation committee. The same house member then asked, "Well who was responsible for selecting the members of that committee?". Fuld replied, "I was responsible for selecting them in the early 90's."
THIS TO ME IS A DISGRACE! I DONT KNOW HOW HE SLEEPS AT NIGHT.
It would be great if the shareholders and/or employees could file a lawsuit to take the 600 million from him.
Below is a summary of the meeting although it doesn't discuss the talk of his compensation:
http://www.investmentnews.com/apps/pbcs.dll/article?AID=/20081006/REG/810069969/1094/INDaily01