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Story Edition - Lehman report rocks Wall Street

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Articles published more than 25 month(s) ago

Executives, auditor blamed for Lehman failure

Source country theglobeandmail Saturday, March 13, 2010 1:36:00 AM CET | info [other]

Entities: Richard Fuld[1]; Henry Paulson[1]; Ernst Young[2]; Charles Geisst[1];

Other categories: Monetary Issues EU; Financial Crisis;

Quotes in this article

Charles Geisst said: “goes back to this idea that you can actually get stuff off a balance sheet that is toxic,”

Report cites alleged financial manipulation in largest ever U.S. bankruptcy, supplies fodder for regulatory changes under discussion...

'Lehman painted a misleading picture of its condition'

Source country independent Saturday, March 13, 2010 1:30:00 AM CET | info [other]

Entities: Henry Paulson[1]; Dick Fuld[1]; Ernst Young[1];

Other categories: Economic Crisis - Internal Market; Europe 2020;

There are many reasons Lehman failed, and the responsibility is shared. Lehman was more the consequence than the cause of a deteriorating economic climate....

Linklaters and Ernst & Young face action over Lehman Brothers collapse

Source country thetimes Friday, March 12, 2010 11:01:00 PM CET | info [other]

Entities: Erin Callan[1]; Arthur Andersen[1]; Ian Lowitt[1]; Dick Fuld[1]; Ernst Young[6]; Martin Kelly[1];

Other categories: Financial Crisis;

Two of the City’s biggest names were battling last night to protect their reputations after an explosive new report on the collapse of Lehman Brothers threatened both with potentially crippling lawsuits....

JPMorgan, Citi triggered Lehman collapse

Source country expressindia Friday, March 12, 2010 10:44:00 PM CET | info [other]

Entities: Richard Fuld[2]; Erin Callan[1]; Ian Lowitt[1]; Henry Paulson[1];

JPMorgan Chase & Co and Citigroup Inc helped cause the failure of Lehman Brothers Holdings Inc by demanding more collateral and changing guarantee agreements.......

Linklaters and Ernst & Young face action over Lehman Brothers collapse

Source country sundaytimes Friday, March 12, 2010 10:41:00 PM CET | info [other]

Entities: Erin Callan[1]; Arthur Andersen[1]; Ian Lowitt[1]; Dick Fuld[1]; Ernst Young[6]; Martin Kelly[1];

Other categories: Financial Crisis;

Lehman report rocks Wall Street

Source country theglobeandmail Friday, March 12, 2010 10:36:00 PM CET | info [other]

Entities: Ernst Young[1]; Erin Callan[1]; Ian Lowitt[1]; Dick Fuld[1]; Tom Braithwaite[1];

Other categories: Economic Crisis - Internal Market;

T he fallout from the report into the collapse of Lehman Brothers shook Wall Street and London on Friday as U.S. officials grilled banks about off balance-sheet trades and questions were raised over the City’s role in the company's attempts to cover up its problems. The 2,200-page report by Anton Valukas, appointed by a U....

JPMorgan, Citi triggered Lehman collapse

Source country financialexpress Friday, March 12, 2010 10:04:00 PM CET | info [other]

Entities: Richard Fuld[2]; Erin Callan[1]; Ian Lowitt[1]; Henry Paulson[1];

JPMorgan Chase & Co and Citigroup Inc helped cause the failure of Lehman Brothers Holdings Inc by demanding more collateral and changing guarantee agreements.......

'Repo 105' at the heart of Lehman report

Source country telegraph Friday, March 12, 2010 9:46:00 PM CET | info [other]

Entities: Erin Callan[1]; Ian Lowitt[1]; Dick Fuld[1]; Chris O'Meara[1]; Ernst Young[1];

The 2,200-page report into the collapse of Lehman Brothers by Anton Valukas, the lawyer who has spent a year on the investigation, will make grim reading for former chief executive Dick Fuld, his ex-finance directors and Ernst & Young (E&Y), the auditors....

'JPMorgan, Citi triggered Lehman collapse'

Source country economictimes Friday, March 12, 2010 9:18:00 PM CET | info [other]

Entities: Richard Fuld[1]; America Corp[1]; Erin Callan[1]; Ian Lowitt[1]; Robert Cleary[1]; Henry Paulson[1];

JPMorgan and Citigroup helped cause the biggest bankruptcy in US history, says a court-ordered report. Check out top gainers, losers and recommendations...

London at centre of Lehman Brothers 'accounting gimmick'

Source country telegraph Friday, March 12, 2010 9:01:00 PM CET | info [other]

Entities: Matthew Lee[1];

Ernst & Young, Linklaters and Lehman Brothers' London operations played key roles in attempts to mask $50bn (£33bn) of assets....

Linklaters defends handling of Lehman deals

Source country guardian Friday, March 12, 2010 8:09:00 PM CET | info [other]

Entities: Hector Sants[1]; Ernst Young[2]; Christopher Cox[1];

Other categories: Economic Crisis - Internal Market;

Report for United States Bankruptcy Court says City law firm approved off balance sheet transactions that disguised true state of Lehman Brothers' finances Linklaters, one of London's premier law firms, is battling to defend its reputation after a US report into the failure of Lehman Brothers showed.......

Lehman Brothers: Repo 105 and other accounting tricks

Source country guardian Friday, March 12, 2010 7:39:00 PM CET | info [other]

Entities: Sam Buell[1]; Dick Fuld[1]; Matthew Lee[1]; Ernst Young[1];

There are lies, damned lies and investment bank balance sheets. It's always been a puzzle how Lehman Brothers was able to spout reassuring figures on declining indebtedness and healthy underlying trends until the day it collapsed, sending the global financial system into a near-apocalyptic meltdown....

Lehman's lenders 'aided its collapse'

Source country nzherald Friday, March 12, 2010 7:33:00 PM CET | info [other]

Entities: Richard Fuld[1]; Ben Bernanke[1]; Erin Callan[1]; Timothy F Geithner[1]; Ian Lowitt[1]; Henry Paulson[1]; Christopher Cox[1];

JPMorgan Chase and Citigroup helped cause the collapse of Lehman Brothers by demanding more collateral and changing guarantee agreements, the bankrupt bank's examiner said yesterday in a report."The demands for collateral by Lehman's......

The Origins of Lehman's 'Repo 105'

Source country IHT Friday, March 12, 2010 7:29:00 PM CET | info [other]

Entities: Mark Klein[1];

Other categories: External Relations;

DealBook explores the British origins and basis of Lehman Brothers' now-infamous "Repo 105" accounting practice, which helped the firm mask how over-indebted it really was....

Sr executives blamed for Lehman collapse

Source country rediff Friday, March 12, 2010 7:00:00 PM CET | info [other]

Entities: Richard S Fuld[1]; Ernst Young[2];

Other categories: Monetary Issues EU; Financial Crisis;

Senior executives and auditing firm Ernst & Young have been criticised, among many others, for the failure of Lehman Brothers, by an official report that delved deep into the collapse of once-famed Wall Street major....

Report: Lehman used gimmicks

Source country WashingtonPost Friday, March 12, 2010 6:02:00 PM CET | info [other]

Entities: Dick Fuld[1]; Ernst Young[5];

Examiner says $50 billion of assets was removed from firm's balance sheet in 2008....

Lehman examiner says gimmick hid debt billions

Source country euronews-en Friday, March 12, 2010 4:58:00 PM CET | info [other]

Entities: Ernst Young[1];

Other categories: Monetary Issues EU; Financial Crisis;

Lehman Brothers used accounting gimmicks to hide billions in debt and was insolvent for weeks before it filed for bankruptcy in September 2008.…...

British firm Ernst & Young accused of 'professional malpractice' over $700billion collapse of Lehman Brothers

Source country dailymail Friday, March 12, 2010 4:25:00 PM CET | info [other]

Entities: Ben Bernanke[1]; Hank Paulson[1]; Harvey Miller[1]; James Peck[1]; Jamie Dimon[1]; Ernst Young[1];

The accountancy giant failed challenge book-keeping 'gimmicks' the American investment bank was using to stay afloat, according to an official report....

JPMorgan, Citi helped Lehman failure, report says

Source country TurkishDailyNews Friday, March 12, 2010 3:43:00 PM CET | info [other]

Entities: Richard Fuld[1]; Ben Bernanke[1]; Erin Callan[1]; Timothy F Geithner[1]; Ian Lowitt[1]; Henry Paulson[1]; Ernst Young[2]; Christopher Cox[1];

JPMorgan Chase and Citigroup helped cause the failure of Lehman Brothers by demanding more collateral and changing guarantee agreements, says a report....

British law firm Linklaters cleared the way for Lehman Brothers' cover-up before $700billion collapse

Source country dailymail Friday, March 12, 2010 2:36:00 PM CET | info [other]

Entities: Harvey Miller[1]; Hank Paulson[1]; James Peck[1]; David Einhorn[1]; Ernst Young[2]; Erin Callan[1]; Ben Bernanke[1]; Ian Lowitt[1]; Jamie Dimon[1]; Dick Fuld[1]; Chris O'Meara[1];

Other categories: Economic Crisis - Internal Market; Financial Crisis;

Linklaters gave the green light to ‘balance sheet manipulation’ which hid the turbulent state of the failed investment bank’s finances, according to a report....

Lehman Brothers used '$50bn accounting gimmicks'

Source country irish-news Friday, March 12, 2010 1:33:00 PM CET | info [other]

Entities: Dick Fuld[1]; Ernst Young[2];

A report into the collapse of US investment bank Lehman Brothers found "credible evidence" that senior managers approved misleading financial statements in the run-up to the group's demise....

How Lehman Brothers hid its woes as it collapsed

Source country economictimes Friday, March 12, 2010 1:28:00 PM CET | info [other]

Entities: Erin Callan[1]; Ian Lowitt[1]; Henry Paulson[1]; Richard S Fuld[1]; Ernst Young[1];

Lehman Brothers used accounting sleight of hand to conceal the bad investments that led to its bankruptcy, the largest in American history. The journey of Lehman Brothers...

British law firm cleared way for Lehman cover-up

Source country thetimes Friday, March 12, 2010 12:53:00 PM CET | info [other]

Entities: Hector Sants[1]; Erin Callan[1]; James Peck[1]; Ian Lowitt[1]; Dick Fuld[1]; Ernst Young[3];

Other categories: Financial Crisis; Economic Crisis - Internal Market;

Quotes in this article

Ernst Young said: “Our opinion indicated that Lehman’s financial statements for that year were fairly presented in accordance with Generally Accepted Accounting Principles [GAAP], and we remain of that view”

Linklaters, one of Britain’s leading law firms, approved controversial accounting practices that allowed Lehman Brothers to shift billions of dollars worth of debt off its balance sheet and mask the perilous state of the bank’s finances prior to its catastrophic collapse in 2008....

British law firm cleared way for Lehman cover-up

Source country sundaytimes Friday, March 12, 2010 12:46:00 PM CET | info [other]

Entities: Hector Sants[1]; Erin Callan[1]; James Peck[1]; Ian Lowitt[1]; Dick Fuld[1]; Ernst Young[3];

Other categories: Financial Crisis; Economic Crisis - Internal Market;

Quotes in this article

Ernst Young said: “Our opinion indicated that Lehman’s financial statements for that year were fairly presented in accordance with Generally Accepted Accounting Principles (GAAP), and we remain of that view”

Lehman Brothers' chiefs concealed losses with accounting 'gimmick' days before $700billion collapse

Source country dailymail Friday, March 12, 2010 12:05:00 PM CET | info [other]

Entities: Ben Bernanke[1]; Hank Paulson[1]; Harvey Miller[1]; James Peck[1]; Jamie Dimon[1]; David Einhorn[1]; Ernst Young[1];

The report into the collapse, which was scathing of Lehman chief executive Dick Fuld and accounting firm Ernst & Young, found that Lehman was insolvent for weeks before filing for bankruptcy in 2008....

Ernst & Young faces legal action over Lehman collapse

Source country thetimes Friday, March 12, 2010 10:52:00 AM CET | info [other]

Entities: Dick Fuld[1]; Ernst Young[3];

Other categories: Economic Crisis - Internal Market;

Ernst & Young could face legal action after a damning report into the collapse of Lehman Brothers accused the British accountancy firm of professional negligence over a number of years before the catastrophic downfall of the 158 year-old American bank in 2008....

Ernst & Young faces legal action over Lehman collapse

Source country sundaytimes Friday, March 12, 2010 10:25:00 AM CET | info [other]

Entities: Dick Fuld[1]; Ernst Young[3];

Other categories: Economic Crisis - Internal Market;

Accounting gimmicks in Lehman demise

Source country economictimes Friday, March 12, 2010 10:22:00 AM CET | info [other]

Entities: Erin Callan[1]; Ian Lowitt[1]; Dick Fuld[1]; Ernst Young[1]; Chris O'Meara[1];

Other categories: Monetary Issues EU; Financial Crisis;

Lehman Brothers Holdings Inc used accounting gimmicks and had been insolvent for weeks before it filed for bankruptcy in September 2008, but there was not extensive wrongdoing, a court-appointed examiner has found....

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