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September 2008

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11

Lehman: Must Be A Rounding Error....

September 26, 2008 – Comments (0) | RELATED TICKERS: LEH

Though the story barely got picked up today, it was reported that Lehman Brothers had $400 Billion less in assets than they reported at the time of bankruptcy because they were using 4 month old data.  In those 4 months brokerage clients effectively created a run on the bank.  This is a pretty massive reporting error (fraud), but I guess it's still all the short sellers' fault, right???  [more]

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