Had a shift in my opinion. Regulators can be corrupted. And Geithner MUST GO http://www.ft.com/cms/s/0/78077b94-2fa1-11df-9153-00144feabdc0.html Lehman Brothers used inconsistent and highly subjective methods to value the increasingly problematic assets on its books, according to the Valukas report released last week detailing the events that led to the company’s demise. EDITOR’S CHOICE Auditors’... [more]
Had a shift in my opinion. Regulators can be corrupted.
And Geithner MUST GO
http://www.ft.com/cms/s/0/78077b94-2fa1-11df-9153-00144feabdc0.html
Lehman Brothers used inconsistent and highly subjective methods to value the increasingly problematic assets on its books, according to the Valukas report released last week detailing the events that led to the company’s demise.
EDITOR’S CHOICE
Auditors’ image in need of polishing - Mar-14
Lehman file rocks Wall Street - Mar-13
Spotlight on Wall St bound to affect industry - Mar-13
Lex: Lehman report: Enron redux - Mar-12
Editorial: The lesson from Lehman’s failure - Mar-12
Valukas smoothes way to legal action - Mar-13
While the most damning parts of the report recount how the bank took $50bn of assets off the balance sheet at quarter’s end in an exercise in window dressing, the report also highlights valuation processes that are troubling as well.
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