Yep. Once they dumped the bonds to other traders they were gonna bet against those very same bonds. Never understood why Sam didn't get that.

There's a lot of money to be made coming out of this mess.
There. Tuld answered your question.

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This happens to a lot of people who cannot accept reality. Someone I used to work with lost his job after 20 years but still came back up to the office for a while and just to walk around it peering through the windows

He's obviously in a very silly way named after Dick Fuld. Dick Fuld didn't walk away. To the end and to this day, he was delusional about what happened to Lehman.

He would probably suffer from severe depression if he gave his job up. Many people do when they come to the end of their careers.

Walk away and do what? He's at the top of a top company. You don't rise to a position like that with wanting it truly, madly, deeply. That kind of fighter usually does not willingly leave the field of battle until forced out by ill health, family pressures, an uncooperative Board of Directors, or death.

Yes you're right - having just a few more million than their rich friends must give them a feeling of extra status. Look at those Billionaires/Millionaires who lost a fortune putting their money with Madoff just to earn a little more.

He's basically choosing to salvage his stock value, which is probably a significant percentage of his wealth. The rich aren't happy with simply being rich. They're happy with being richer. Which of course means they're practically never happy, because they could always be richer.

Agreed. He seems to really enjoy his job, even in a crisis.

I think as you grow older - something to do - is the key answer.

Why would he walk away? He still has his job, salary and having something to do every day. Even with market loss he would still be worth hundreds of millions.