Ernst & Young at risk over Lehman "accounting gimmicks"
- Lawyers for Lehman’s chief executive Dick Fuld say he had nothing to do with the ‘repo 105’ transactions used to hide the bank’s losses.
- Ernst& Young's future at risk due to collapse, warns US court
Deceptive financial practices and lax auditing lay at the heart of the 2008 collapse of US investment bank Lehman Brothers that helped to trigger the global economic crisis, says a US court examiner’s report.
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The Bottom Line:If Mr Cable has his way...
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