Fuld: 'I Got No Golden Parachute'

Lehman Brothers CEO Richard Fuld made it clear to the House Oversight and Government Reform Committee Monday afternoon that he did not ease into retirement when his bank declared bankruptcy last month.

“I got no golden parachute. I had no contract,” Fuld said. “I never sold my shares…because I believed in this company. I could have sold that stock, but I did not, because I firmly believed we were going to get back on the road [to solvency].”