Pity Dick Fuld

Spiraling home prices have a lot of people down in the dumps, but nobody holds a candle to this guy.

Lehman Brothers Chief Executive Richard Fuld used to have a house valued at $13.3 million dollars. Last November he ended up selling it for $100.

A hundred bucks? That's - what? - 100% markdown? That poor guy....

What's that you say, Reuters? He sold it to his wife?

The 62-year old executive, who could face civil lawsuits after overseeing the storied investment bank's collapse into Chapter 11 proceedings last September, transferred ownership of the 3.3 acres seaside home to Kathleen Fuld on November 10, records show.

The couple had jointly bought the home for $13.75 million in March 2004, as first reported by Cityfile.com.

Gosh, you don't think the asset transfer was intended to lower his net worth in preparation for civil litigation, do you?

Or that he bought a spendy house in Florida because of their notorious Homestead Exemption which prevents creditors from forcing a debtor to sell their home?

That'd be just preposterous.... Hey, Dick - what's the real reason?

Tell us, do.