Daily Archives: March 12, 2010

From the FTdotcomment blog:

For those baffled by all the talk of repos, accounting rules and hidden leverage, a quick round-up of those against whom the court-appointed Anton Valukas, “examiner” of Lehman Brothers, found that legal claims would have “sufficient credible evidence to support a finding by a trier of fact” – what he calls “colorable claims”. You can read the full 2,200 page report here.

At Lehman, thanks to the discovery of “repo 105″, used to hid borrowing and make levels of leverage look lower:

  • Dick Fuld, chief executive
  • Christopher O’Meara, former chief financial officer
  • Erin Callan, former chief financial officer and until recently at Credit Suisse
  • Ian Lowitt, chief financial officer

 Read more

Lehman report blames top executives FT
The genesis of Repo 105 FT Alphaville
Report Shows How, Collapsing, Lehman Hid Woes DealBook, NY Times
The “Repo 105″ Scam: Zero Hedge
The U.K. Origins of Lehman’s Accounting Trick DealBook, NY Times
Lehman report: Enron redux Lex, FT