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How the 'Legend' of Richard Fuld began

Richard Fuld

There's an old anecdote about former Lehman CEO Dick Fuld that's been doing the rounds for years, but has resurfaced in Vicky Ward's excellent 'Devil's Casino - Friendship, Betrayal, & The High Stakes Games Played Inside Lehman Brothers'.

Lehman Brothers - A Brief History

Lehman Brothers Headquarters New York

In 1844, 23-year-old Henry Lehman, the son of a cattle merchant, emigrated to the United States from the town of Rimpar, in the German state of Bavaria. He settled in Montgomery, Alabama, where he opened a dry goods store, 'H. Lehman'. In 1847, following the arrival of Emanuel Lehman, the Firm became 'H. Lehman and Bro'. With the arrival of their youngest brother, Mayer Lehman, in 1850, the Firm changed its name again and 'Lehman Brothers' was founded.