Document Type
Article
Publication Date
4-4-2010
Publisher
New York Times
Language
en-US
Abstract
A FEW weeks ago, two Republican House members asked Ben Bernanke, the chairman of the Federal Reserve, whether the Fed knew — before Lehman’s bankruptcy examiner revealed it — about the bookkeeping scam at Lehman known as “Repo 105.” This scam allowed Lehman to disguise how much debt it was carrying, right up until it collapsed. Lehman got new loans to pay off old loans, pretended the new loans were “sales,” and through a complicated series of steps made both the old and new loans disappear just in time for its quarterly reports.
Recommended Citation
Susan P. Koniak, George M. Cohen, David Dana & Thomas Ross,
How Washington Abetted the Bank Job
,
in
New York Times
(2010).
Available at:
https://scholarship.law.bu.edu/shorter_works/227
Publisher URL
https://www.nytimes.com/2010/04/04/opinion/04koniak.html
