The Dirty Dozen

The Maestro
HENRY PAULSON

WAS CEO of Goldman Sachs (1999-2006); Treasury secretary (2006-2009)
WHAT HE DID Pushed for end to debt restrictions for banks like Goldman, then arranged big bailout for Goldman.
WORST MOVE TARP proposal just three pages long; made his decisions "non-reviewable."
NOW SAYS "I don't think we've made mistakes on the major decisions."

The Big Loser
DICK FULD

WAS CEO of Lehman Brothers (1993-2008)
WHAT HE DID Piloted Lehman to largest ­bankruptcy in U.S. history; earned $22 million the year firm went bust.
WORST MOVE Tried to avoid lawsuits by selling his $13 million Florida home to his wife for $100.
NOW SAYS Feels "horrible" about Lehman, but insists his management was "prudent and appropriate."

Mr. Too Big
KEN LEWIS

IS CEO of Bank of America (2001-present)
WHAT HE DID Created ultimate too-big-to-fail company, buying up Fleet, MBNA, Countrywide and Merrill Lynch.
WORST MOVE Failed to catch a $15 billion loss at Merrill before buying the firm; needed $20 billion bailout to close deal.
NOW SAYS It's a false "claim" to say "the banks that caused this mess must be held accountable."

[From Issue 1075 — April 2, 2009]

Illustrations: Victor Juhasz.

Related Stories:

• The Big Takeover by Matt Taibbi
• More From Issue 1075
• National Affairs Blog by Tim Dickinson