The case against Lehman Brothers

[Fabbs]

If you can catch the replay it's a great expose.
Some may think 'bouts overdoes the 1% vs 99% and corruption at the top but this expose personifies it. Some analysts think it played a large part in the eco collapse of 2008 and continuing.

Cliff notes Lehman Brothers would have Earnst and Young take 50 Billion off the books (transfer it to United Kingdom) just long enough for an audit, then simply bring the 50 Billion back to the U.S. a short time later. Lather, rinse, repeat. All overseen by the SEC. After sucking these billions from investors, they simply filed bankruptcy.

http://www.cbsnews.com/8301-18560_16...in;cbsCarousel

[boutons_deux]

end-of-period hide-n-seek, called "105" or something like, had Lehman sell its debt for 5% interest overnight, close the books (debt off the books), then buy it back next morning.

aka, criminal fraud. Par for the course the for the financial sector.

"Why do you envy the 1% for their hard earned wealth" -- WC

Goldman Sacks showed Greece how to hide its debt so Greece could get a better bond rating. Again, criminal fraud by GS, now Greece is in tatters.

And don't forget Jefferson County AL, etc, etc, etc.