PETE'S BROTHER
03-12-2010, 02:32 PM
Report Shows How, Collapsing, Lehman Hid Woes - Yahoo! Finance (http://finance.yahoo.com/news/Report-Shows-How-Collapsing-nytimes-2341735040.html?x=0)
n a series of e-mail messages cited by the examiner, one Lehman executive writes of Repo 105: "It's basically window-dressing." Another responds: "I see ... so it's legally do-able but doesn't look good when we actually do it? Does the rest of the street do it? Also is that why we have so much BS [balance sheet] to Rates Europe?" The first executive replies: "Yes, No and yes. :)"
n a series of e-mail messages cited by the examiner, one Lehman executive writes of Repo 105: "It's basically window-dressing." Another responds: "I see ... so it's legally do-able but doesn't look good when we actually do it? Does the rest of the street do it? Also is that why we have so much BS [balance sheet] to Rates Europe?" The first executive replies: "Yes, No and yes. :)"