Okay, this is obviously going to be a minority view, so I hope you guys can bear with me. But to me it sounds a little like a kind of submerged bilingual double pun. Could Mr. Stiegler have been reading about corporate greed in English-language financial publications, and just have expected many listeners to recognize the allusions?
That is: both his metaphors remind me of English clichés. "Lard" is a common derogatory term for excess money in the budget, culpable luxury, grossly unnecessary expenditure. Cf. for example today's thread on "lard-filled suit," which implied a neat connection between Dilbert's pointy-haired boss's (I assume; could also have been the lazy co-worker) own obesity and his budgetary generosity toward himself alone.
Similarly, "swimming in lard" can be used not only of over-rich food, but also figuratively for offensively/disgustingly wealthy, somewhat like "rolling in money/dough." Yes, it's unappetizing, but it's meant to be. And "cold water" is of course also a common expression for a rude shock, a cruel disappointment: to throw cold water on someone's plans, etc.
So I would take the sentence to mean something like, "I'll let the board (keep on) swim(ming) in lard, and everyone else will get tossed into cold water." (The part that actually sounds odd to me is the transitive verb "bade.")