Video: Report of Lehman Brothers Accounting Details Billions Shuffled and Hidden
A report detailing Lehman Brothers' attempts to conceal its increasingly unstable financial situation leading to the company's collapse released Friday included hiding assets from government bodies with possible knowledge from Lehman Brothers chief executive, Dick Fuld. In this Bloomberg video, a former Lehman Brothers employee details that $38 billion in one quarter, $49 billion in another quarter and $50 billion in another were temporarily removed from the company's balance sheets.
Lehman Brothers, which collapsed in 2008 and contributed to the economic crisis the world has found itself in, could be facing serious legal action following this reporter detailing the questionable at best accounting practices of Lehman Brothers, according to this BBC video.
Published by Cassie Hewlings
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