Posted on 03/13/2010 7:00:53 AM PST by americanophile
For the year that it took the court-appointed examiner to complete his report on the demise of Lehman Brothers, officials from Wall Street to Washington were anticipating it as the definitive account of the largest bankruptcy in American history.
And the report did just that when it was unveiled on Thursday, riveting readers with the exhaustive detail contained in its nine volumes and 2,200 pages. Yet almost immediately, it raised a host of new questions.
Now government regulators have what some lawyers call a road map for further inquiry into former Lehman executives like Richard S. Fuld Jr. and the auditing firm Ernst & Young.
Whether the Justice Department and the Securities and Exchange Commission will actually pursue their own legal actions is unclear. But legal experts said on Friday that the examiner, Anton R. Valukas, had provided plenty of material for civil regulatory action at the least with his findings of “materially misleading” accounting and “actionable balance sheet manipulation.”
(Excerpt) Read more at nytimes.com ...
I’d bet the law firms wouldn’t sign off because of the effects of Enron.
...or Sarbanes-Oxley.
What’s that?
GLP is a fruitcake site.
That’s what I figured, if the other poster is a member, that confirms it.
Sometimes shenanigans exposed in one place make you think differently about trickery in others.
Marx(Groucho)
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