
No, I’m not talking about a bond or anything. I’m talking about The Annotated Fuld:
A popular portrait of ex-Lehman boss Dick Fuld painted by street artist Geoffrey Raymond could fetch a price deep into the six-figure range as its owner, former Lehman head trader Larry McCarthy, fields offers from prospective buyers. McCarthy, who now works as the head of levered products at Chapdelaine Credit Partners downtown, told The Post that he paid $10,000 in cash to Raymond for the artwork three days after Lehman filed for bankruptcy on Sept. 15, 2008.
As McCarthy tells it, he convinced Raymond, who has painted similar oil and canvas portraits of Wall Street figures like former Bear Stearns boss Jimmy Cayne, Federal Reserve chief Ben Bernanke and former Treasury Secretary Hank Paulson, to sell him the Fuld painting after Raymond said he planned to auction it on eBay.
“I asked [Raymond], ‘How much do you think you’ll get on auction for that thing?’ ” McCarthy recalled.
“Raymond responded, ‘Eight thousand,’ ” McCarthy said. “I said, ‘You wanna be done at 10 thousand?’ “
This Fuld painting does do an excellent job of capturing the entire, ah, whatever the opposite is of joie de vivre of the financial crisis – Jimmy Cayne has been trivialized as just some weed-smoking poker player, Benny’s still adorable to 41% of poll respondents thanks to his scruffy beard, and a larger percentage of people don’t know who Hank Paulson is than I care to think about right now. Fuld managed to serve as a lightning rod for so much haterade, from former employees allegedly punching him out at the gym, from bloggers, from Congress… it makes sense that this work with its scrawled captures of the zeitgeist would be appreciating in value. If he paid $10K and it goes for $100K, that’s a helluva return. And here I am, thinking how happy I’d be to sell a print of the Lehman Brothers Failboat for ten bucks, or something. Wish I’d asked some of you guys to send me post-it notes to stick on it at the time.


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