Lehman Brothers’ ‘Repo 105′ Accounting Scandal

in ceo GOld juniors Gold Market by admin — March 15, 2010 8:05 am | no comments

Nearly 18 months after the collapse of Lehman Brothers, it looks like we might finally get some answers. The long-awaited bankruptcy examiner’s report came out Friday — and it’s a whopper — clocking in at 2200 pages. The examiner looked at 10 million e-mails and 20 million documents in the case. The financial world is still digesting the report, but the first scandal is already emerging. The biggest revelation so far is that Lehman was cooking their books since at least 2007. In the final quarter before filing bankruptcy, accounting tricks boosted their balance sheet by $50 billion. Advertisement We’ll Give You 6 Months Risk-Free of This First-of-Its-Kind Service… We’ve never offered a trading service like this before. In fact we’re not sure anyone has. This is our first ever “beginners” options advisory. And the great part is – you earn while you learn! Industry superstar Ian Cooper will guide you every step of the way as you learn to trade these “everything-proof” investments – but he’ll also send you fresh live options plays each month that you can use to bank double and triple digit gains while you do it. In fact, your first play is on the house and could be worth 50% over the next 8 weeks. Grab it here and let Ian be your options coach for 6 full months, risk-free! Let’s Get Some Lipstick on This Pig Insiders called the scheme a “Repo 105.” And let me tell ya, Lehman took a page straight out of Enron’s playbook with this one. Here’s how it worked: Lehman entered into repurchase agreements with banks in the Cayman Islands. Under the deal, Lehman would “sell” toxic assets to the other bank — with the understanding that they would buy them back in a short time. The trick made Lehman Brothers look much healthier — on paper, at least. These guys were desperate to fool investors and credit rating agencies. They had screwed up on a truly collosal scale, and lined …

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Lehman Brothers’ ‘Repo 105′ Accounting Scandal