Lehman's Collapse: Executives and Accountants Faulted | Free Investing

Lehman's Collapse: Executives and Accountants Faulted

Submitted by Free Investing on Fri, 03/12/2010 - 03:59

John Lounsbury submits:An article by Francesco Guerrera, Nicole Bullock and Henny Sender at ft.com discusses a report by the court-appointed examiner Anton Valukas looking into the collapse of Lehman Brothers (LEHMQ.PK) in September of 2008. The article says:The hard-hitting report found evidence that Mr Fuld and Christopher O’Meara, Erin Callan and Ian Lowitt, who were chief financial officers of Lehman during its last days, failed to disclose the use of an accounting device that enabled the bank to hold $50bn off its balance sheet in both the first and second quarter of 2008.Complete Story »

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