Newly released report shows how accounting trickery led to firm's demise.
May 01, 2010 at 12:00 AM
1 minute read
The original version of this story was published on Law.com
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At the heart of the sprawling report on Lehman Brothers’ downfall is an accounting gimmick that helped the investment bank hide $50 billion worth of assets to conceal its true leverage ratio. The 2,200-page tome, released in March, details the rampant use of repurchase agreements to temporarily and deceptively move the assets off the books.
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