Zerohedge is carrying Tyler Durden’s (the Brad Pitt character in Fight Club) remarkable analysis of the Lehman Examiner Bankruptcy Report. Some of the highlights of his summary include:
- Lehman accountants falsified its ledgers in ways similar to Enronesque “Mark to Market” methodology.
- In addition to looking the other way with Madoff Securities, the SEC turned a blind eye to Lehman’s shenanigans.
- Taking risky positions in speculation on junk “leveraged buyout loan positions.”
- And thanks to the corporate veil, and compliant mainstream news media, the heat is off.
So, to recap, FFFFFFFFFFUUUUUUUUUUUUUUUU
Presenting The Lehman Bankruptcy Examiner Report | zero hedge.