Monday, March 22, 2010

Mr. Lee and Lehman Brothers

As the feds dig deeper into who knew what and when, it was reported by the WSJ on Saturday that Mathew Lee, senior vice president at Lehman's, warned the company with a letter in May of 2008 that he believed "senior management may have violated Lehmans internal code of ethics by mis-leading investors and regulators about the true value of the firms assets".

Sooner than later, a few high ranking people at Lehmans will stand trial. Last week Senator Dodd asked for the Justice Department to investigate alleged accounting manipulation at Lehmans, stemming from a 2200 page examiners report.

And to add insult to injury, it was reported last week that the regulators who were charged with oversight are getting huge raises and bonuses.

1 Comments:

At March 22, 2010 at 1:38 PM , Blogger Edward said...

I think there is far more to this economic crisis than we have been told, and what we have not been told honestly is who knew what, and when they knew it. That is something the American public is entitled to know, and it is something that I doubt we are ever going to be told. But then, maybe this is a crack in the dike that will lead to the whole dike caving in and then we may find out the truth. Pillsbury, do you think there is more to this story about this guy at Leeman brothers than meets the eye?

 

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