Fuld called Treasury Secretary Hank Paulson's old firm in June, according to WSJ:
Mr. Fuld grew increasingly frustrated about chatter over Lehman's future and rumors that counterparties were shying away from trading with the firm. At one point, Mr. Fuld contacted Goldman Sachs Group Inc. CEO Lloyd Blankfein. "You're not going to like this conversation," Mr. Fuld told Mr. Blankfein, according to people familiar with their talk. Mr. Fuld said he was hearing "a lot of noise" about Goldman traders who were allegedly spreading negative rumors about Lehman. Goldman declined to comment.
I tell you, honest, it's all coincidence that everyone on Paulson's enemies list is getting blown out of the water: Bear Stearns, Fannie Mae, Freddie Mac, and now Lehman teetering with rumors coming out of Goldman.
It's not that Lehman doesn't have a highly leveraged problem balance sheet. It's just that almost every one on the Street and in commercial banking has the same nutty balance sheets. It's just interesting that the nutty balance sheets are causing the most problems for Paulson's enemies.
-Robert Wenzel
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