American Scandal Lehman Brothers | The Gorilla of Wall Street | 1
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Jan 13, 2026 Explore the dramatic rise of Dick Fuld at Lehman Brothers, from intern to the powerful CEO known as 'the Gorilla.' Discover the risky bets he made, the internal warnings about mortgage exposure, and the moments leading up to Lehman's infamous collapse. Hear about Fuld's response to 9/11, the aggressive push into mortgage-backed securities, and his relationship with Treasury Secretary Hank Paulson. As the financial crisis looms, tensions mount and resignations occur, setting the stage for a historic fall.
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From Intern To The Gorilla Of Wall Street
- Dick Fuld rose from a summer intern to Lehman Brothers CEO and embraced the nickname 'the Gorilla' as part of his persona.
- His obsessively competitive culture and loyalty-focused hires shaped Lehman's aggressive strategy.
Rebuilding After 9/11 And Chasing Growth
- After 9/11 Dick Fuld moved Lehman out of ruined Lower Manhattan and bought a new Midtown tower to signal recovery and growth.
- He expanded Lehman's mortgage and leveraged lending businesses, chasing rivals' profits.
The Senior Exec Who Quit Over Risk
- Mike Gelband repeatedly warned Dick Fuld about the housing bubble and subprime risk but was ignored and eventually resigned.
- His dramatic departure signaled internal dissent over Lehman's risky strategy.
