Adapted from The Last of the Imperious Rich: Lehman Brothers, 1844-2008 by Peter Chapman by arrangement with Portfolio, a member of Penguin Group (USA), Inc., Copyright 2010 by Peter Chapman.
Dick Fuld was distraught. "I loved this place," he said. Fuld had resistedthe idea of selling and, until the last, never believed it would happen. It had, however, and in 1984, after only a few months in control, Glucksman and his followers had thrown Lehman Brothers' independence away.And as he shuttled the short distance from Water Street to AmericanExpress's offices while he negotiated the deal, Glucksman was only yardsfrom the point of Manhattan where Henry Lehman approached the shore140 years earlier.