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What's the bullshit about auditors and Lehmans? Lehman's assets ended up being more valuable than expected after it went bust. What killed it was that it ran ou
by sgt101 4y ago
What's the bullshit about auditors and Lehmans? Lehman's assets ended up being more valuable than expected after it went bust. What killed it was that it ran out of cash because it hadn't provided for the market conditions that cropped up . Discarding the utter nonsense that Goldman's were on about (7 sigma market shift my arse) this was in the class of understandable accidents. The problem is/was that these understandable accidents can't happen to institutions that are systemically important.