A court-appointed us bankruptcy examiner has concluded that there are grounds for legal claims against top Lehman brothers bosses and auditor Ernst & Young for signing off misleading accounting statements in the run-up to the collapse of the wall street bank in 2008 which sparked the worst financial crisis since the Great Depression.
A judge last night unsealed a 2,200-page forensic report by expert Anton Valukis into Lehman's collapse which includes scathing criticism of accounting "gimmicks" used by the failing bank to buy itself time. These included a contentious technique known as "repo 105" which temporarily boosted the bank's balance sheet by as much as $50bn (£33bn).
Wanna bet no one goes to jail over nearly destroying the global economy?
FDR had it right when he called them the "banksters"
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