IN testimony yesterday, the former Lehman CEO testified that his pay since 2000 was closer to $350 M than $480 Mhich th ecommittee cited. He said most of 2007 was paid in now worthless stock, gee, will he get an ordinary or capital loss on that I wonder, either way his basis was zero.
It is simply incredible that this man can look into the camera and claim to have been working for the stockholders as he personally raided the Lehman bank acount, then took the firm to bankruptcy literally this hear. As someone said on television this morning, you would think he could at least make a contribution to all the Lehman employees now out of work and health insurance, no sign of that coming so far.
Look for this guy to be even more demonized as the market trumoil continues.
Professor Elam 
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