“Accounting Gimmicks”

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."

A dark matter hurricane is crashing into Earth

Giving our solar system a "slap in the face"

Surprising Science
  • A stream of galactic debris is hurtling at us, pulling dark matter along with it
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Are we all multiple personalities of universal consciousness?

Bernardo Kastrup proposes a new ontology he calls “idealism” built on panpsychism, the idea that everything in the universe contains consciousness. He solves problems with this philosophy by adding a new suggestion: The universal mind has dissociative identity disorder.

We’re all one mind in "idealism." (Credit: Alex Grey)
Mind & Brain

There’s a reason they call it the “hard problem.” Consciousness: Where is it? What is it? No one single perspective seems to be able to answer all the questions we have about consciousness. Now Bernardo Kastrup thinks he’s found one. He calls his ontology idealism, and according to idealism, all of us and all we perceive are manifestations of something very much like a cosmic-scale dissociative identity disorder (DID). He suggests there’s an all-encompassing universe-wide consciousness, it has multiple personalities, and we’re them.

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New study reveals what time we burn the most calories

Once again, our circadian rhythm points the way.

Photo: Victor Freitas / Unsplash
Surprising Science
  • Seven individuals were locked inside a windowless, internetless room for 37 days.
  • While at rest, they burned 130 more calories at 5 p.m. than at 5 a.m.
  • Morning time again shown not to be the best time to eat.
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