News came yesterday that Dick and Kathy Fuld have pulled their 640 Park Avenue apartment off the market after listing it for $32 million earlier this week. This reporter interviewed the Fulds in that apartment, which is still under construction and, over the cacophony of jack hammers, Mr. Fuld was quite open about his motives.
“We’ve been experiencing a little patch of rough water,” the non-sailor said, making little wavy up and down motions with his hands, “so Kathy and I had to decide whether to stay in New York or move back to North Street. We finally decided, ‘New York’ – if we need a weekend in the country, we can stay with Walt and Monica – the Noels are famous for their hospitality, and Walt and I have a lot to talk over these days.”
“What? Well, for starters, the folly of turning over the business to know-nothings. I listened to the goddamn quants; I mean, what the hell do I know about CDO’s? These idiots told me we were making money on them, I should ask questions? F that. And Walt’s got sort of the same story. He caught the bear, his staff was supposed to skin it. Is one guy supposed to do all the work? Get a life.”
Told that the Noel house might soon be seized by creditors and placed on the market Kathy Fuld looked stricken. “I’ve got all my new linens stored there! My sheets, my towels, all the bedcovers for all our houses!” She left the room hurriedly, presumably to make a quick trip to 175 Round Hill Road. Dick terminated the interview and rushed after her. “If Walt’s in trouble,” he shouted over his shoulder, “he’s gonna need a quick deal on that house. All cash!”