Lehman Brothers, the bank which collapsed in September 2008 and sparked global economic meltdown, could face legal action over accounting “gimmicks” revealed in a recent report.
Lehman Brothers, the bank which collapsed in September 2008 and sparked global economic meltdown, could face legal action over accounting "gimmicks" revealed in a recent report. "A court-appointed US bankruptcy examiner has concluded that there are grounds for legal claims against top Lehman Brothers bosses and auditor Ernst & Young for signing off misleading accounting statements in the run-up to the collapse of the Wall Street bank in 2008 which sparked the worst financial crisis since the Great Depression. A judge last night unsealed a 2,200-page forensic report by expert Anton Valukis into Lehman's collapse which includes scathing criticism of accounting ‘gimmicks’ used by the failing bank to buy itself time. These included a contentious technique known as ‘repo 105’ which temporarily boosted the bank's balance sheet by as much as $50bn (£33bn). The exhaustive account reveals that Barclays, which bought Lehman's US businesses out of bankruptcy, got certain equipment and assets it was not entitled to. And it reveals that during Lehman's final few hours, chief executive Dick Fuld tried to get Gordon Brown involved to over-rule Britain's Financial Services Authority when it refused to fast-track a rescue by Barclays."
Setting a simple intention and coming prepared can help you — and those around you — win big.
- Setting an intention doesn't have to be complicated, and it can make a great difference when you're hoping for a specific outcome.
- When comedian Pete Holmes is preparing to record an episode of his podcast, "You Made it Weird with Pete Holmes," he takes 15 seconds to check in with himself. This way, he's primed with his own material and can help guests feel safe and comfortable to share theirs, as well.
- Taking time to visualize your goal for whatever you've set out to do can help you, your colleagues, and your projects succeed.
The Amazon Rainforest is often called "the planet's lungs."
- For weeks, fires have been burning in the Amazon rainforest in Brazil, likely started by farmers and ranchers.
- Brazil's president, Jair Bolsonaro, has blamed NGOs for starting the flames, offering no evidence to support the claim.
- There are small steps you can take to help curb deforestation in the Amazon rainforest, which produces about 20 percent of the world's oxygen.
How do we combat the roots of these hateful forces?
- American Psychological Association sees a dubious and weak link between mental illness and mass shootings.
- Center for the study of Hate and Extremism has found preliminary evidence that political discourse is tied to hate crimes.
- Access to guns and violent history is still the number one statistically significant figure that predicts gun violence.