Graphic: How “Repo 105″ worked
A look at “Repo 105,” a series of transactions that Lehman Brothers is alleged to have used to make its balance sheet appear stronger.
- Text: Dan Wilchins, llustration: Silvio DaSilva
A look at “Repo 105,” a series of transactions that Lehman Brothers is alleged to have used to make its balance sheet appear stronger.
- Text: Dan Wilchins, llustration: Silvio DaSilva
My gut feeling is that this looks like good old fraud, or breach of trust if you want, and not ‘smoke and mirrors’. The basic notions of good faith and proper disclosure are missing here.
I can already see Cuomo and his team filing charges.