Lehman's False Accounting Was Known By SEC and NY Fed Regulators -- Yet They Did Nothing
(L to R) Federal Reserve Chairman Ben Bernanke testifies while SEC Chairman Christopher Cox Under Secretary of Treasury for Finance, Robert Steele and President of the Federal Reserve Bank of New York, Timothy Geithner listen during a Senate Banking, Housing and Urban Affairs Committee hearing on Capitol Hill April 3, 2008 in Washington DC. Bernanke defended the Feds moves to prevent the failure of Bear Stearns investment bank, saying that its failure could have dealt the U.S. and world economy serious damage.
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At most times there were at least a dozen regulators from the SEC and New York Federal Reserve stationed within Lehman Brothers, with unfettered access to Lehman's financials including the Repo 105 transactons. And they were tipped by a whistleblower. Yet they said nothing.
Hello, Mr. Geithner. Yes, I'm here to deliver another nail for your coffin.
Tuesday, March 16, 2010 at 3:43PM
DailyBail
