Liability for misconduct
2009-05-03 20:07:44.000731+02 by Dan Lyke 0 comments
How Lehman Brothers Got Its Real Estate Fix is the current crop of too little, too late looks at the financial system collapse, in this case looking at the reign of Mark A. Walsh in Lehman Brothers commercial real estate dealings. One thing jumped out:
MR. WALSH grew up in Yonkers, the son of a lawyer who once served as chairman of the New York City Housing Authority. He attended Iona Preparatory School in New Rochelle; the College of the Holy Cross, where he majored in economics; and, finally, the Fordham University School of Law.
Now we don't expect lawyers to actually have any ethics, and I could actually add 1 and 1 and not get 3, so I wasn't an investor in any of these schemes, but I think it'd be worth an investor's while to go back to the College of the Holy Cross and sue the living pants off them, because anybody who certified that this guy knew anything about economics seems like they'd be as culpable in his misdeeds as he is.