Examiner: Lehman Torpedoed Lehman
Posted by admin on March 12th, 2010
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BY MIKE SPECTOR,SUSANNE CRAIG,PETER LATTMAN
A scathing report by a U.S. bankruptcy-court examiner investigating the collapse of Lehman Brothers Holdings Inc. blames senior executives and auditor Ernst & Young for serious lapses that led to the largest bankruptcy in U.S. history and the worst financial crisis since the Great Depression.
In the works for more than a year, and costing more than $30 million,the report by court-appointed examiner Anton Valukas paints the most complete picture yet of the free-wheeling culture inside the 158 year-old firm, whose chief executive Richard S. Fuld Jr. prided himself on his ability to manage market risk.
The document runs …
