Network News

X My Profile
View More Activity
2.7%  Q1 GDP    4.57%  avg. 30-year mortgage     9.5%  Unemployment

New report into Lehman Brothers collapse released

The actions of Lehman Brothers executives “ranged from serious but non-culpable errors of business judgment to actionable balance sheet manipulation,” says a 2,200-page report into the factors that led to the largest bankruptcy claim ever filed.
The just-published report by court-appointed examiner Anton Valukas, the chairman of law firm Jenner & Block, concludes that the firm painted “a misleading picture of its financial condition” as it pursued questionable tactics to try to prevent its demise. Indeed, the company kept tactics -- such as one called “Repo 105,” designed to give the company the appearance of having less debt -- from the government, rating agencies, investors and even its own board of directors.
Lehman Brothers sought Chapter 11 bankruptcy protection in September 2008. A year in the making, the report scrutinized over 10 million documents from the company plus 20 million pages of e-mail.
The full report is available here – but be advised that this is a large file that might slow your computer down.
--Mike Musgrove

By Jennifer Abella  |  March 12, 2010; 1:17 PM ET
Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   StumbleUpon   Technorati   Google Buzz   Previous: Positive retail numbers send markets climbing
Next: Stocks mixed at opening on China monetary concerns


I will take your word for it. My machine is slow as a turtle as it is. What other rabbits do you have in your hat?

Posted by: tossnokia | March 12, 2010 3:40 PM | Report abuse

Wow, great blog on this subject. I learned so much. Do you actually get paid for this tripe?

Posted by: rickmccay | March 12, 2010 11:39 PM | Report abuse

The comments to this entry are closed.

RSS Feed
Subscribe to The Post

© 2010 The Washington Post Company