Lehman Crash: Where Were the Cops? | Free Investing

Lehman Crash: Where Were the Cops?

Submitted by Free Investing on Fri, 03/12/2010 - 04:31

Karl Denninger submits: Sarbanes-Oxley was supposed to prevent crap like this: click to enlarge From the paper: Lehman employed off-balance sheet devices, known within Lehman as “Repo 105” and “Repo 108” transactions, to temporarily remove securities inventory from its balance sheet, usually for a period of seven to ten days, and to create a materially misleading picture of the firm’s financial condition in late 2007 and 2008.Complete Story »

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