The Lehman Postmortem: Zerohedge Breaks it Off

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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.