Friday, March 12, 2010

How Lehman Hid Its Problems While it Collapsed

The New York Times is reporting on a report, complied by an examiner for Lehman, that finds that it failed from multiple causes, including bad mortgages. That is not too much of a surprise, but what is telling is the finding that Lehman used "materially misleading" accounting gimmicks to hide its financial problems. The NYT has the details here.
The full report by Anton Valukas is also online.

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