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Lehman Bankrutpcy: 'Repo 105,' Firm's 'Accounting Gimmick,' Was Like 'A Drug,' Emails Show


Business  (tags: Dick Fuld, Enron, Lehman Bankruptcy, Lehman Bros, Lehman Brothers, Lehman Ceo, Repo 105, Repo Lehman, Richard Fuld, Business News )

Judy
- 3390 days ago - huffingtonpost.com
The arcane "accounting gimmick" employed by Lehman Brothers as the firm failed in 2007 and 2008, was like "a drug" propelling the bank to conceal the true nature of its financial health, according to bankruptcy documents released yesterday.



   

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Comments

Anne F (17)
Saturday March 13, 2010, 2:57 pm
The executives and accountants cheated. We need to find a new way to run business.
 

Rajee Seetharam (138)
Monday March 15, 2010, 1:52 am
Noted with sadness! People needn't cheat!
 

Mary Donnelly (47)
Monday March 15, 2010, 2:52 pm
Thanks Judy. Why does none of that surprise me!
 
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