Art Imitates Life for Lehman CEO

Fuld collected $10,900,000 in base salary and $77,475,000 in cash bonuses during his 14 years as Lehman's chief. Most recently, he also reaped $539,909 from the sale of more than 2.5 million Lehman shares in September, according to Equilar, Inc., an executive compensation research firm and data provider. As of Sept. 23, Fuld still held at least $7,978 in Lehman shares.

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The cash he made on his stock sales, however, was only a fraction of what Fuld could have earned had he sold earlier: in January, Fuld's holdings in Lehman were valued at over $695 million.

The Christie's auction Wednesday night, with its refined setting and calmly seated audience, contrasted sharply with Fuld's last public brush with art.

On the day that Lehman announced it was seeking bankruptcy protection, artist Geoffrey Raymond -- known for painting Wall Street heavyweights and politicians -- debuted a large portrait of Fuld outside Lehman's Times Square headquarters. As he's done with other works, Raymond invited passersby, including Lehman employees, to use colored markers to sign messages on the canvas.

Green -- Lehman's official color -- was reserved for use by Lehman workers and their families; black and blue were for everyone else. Today, more than a third of the scribbles on the portrait are in green. Among the green messages, presumably directed at Fuld: "25,000 unemployed; I hope you are happy," "Your employees bled green for you," "You are a coward," and "You broke our heart."

Other messages were less polite, including some crude interpretations of Fuld's first name.

At a congressional hearing on the financial crisis last month, Fuld said he took "full responsibility" for the bankruptcy of Lehman Brothers and "felt horrible" about it.

"This is a pain," he said, "that will stay with me the rest of my life."