New York Times (March 15)
2010/ 03/ 15 by jd in Global News
A 2,200 page report reveals Lehman Brothers “was aggressively massaging its books.” Creative window dressing allowed Lehman to move about $50 billion in illiquid assets off balance sheet. The massive scale of this accounting trick has caught even industry insiders by surprise. The New York Times calls the report a reminder “of the crying need for adult supervision of Wall Street” and warns that “we could be blindsided again. Congress is not even close to passing meaningful regulatory reform.”
