Replies to post #9987 on Lehman Preferred Series "J" Preferred (f

[DOLLARLAND]

Brad Hintz Discusses Bankruptcy Report on Lehman: Video

Video Link: http://www.bloomberg.com/apps/news?pid=conewsstory&tkr=LEHMQ%3AUS&sid=aAnjqKT2wHgw

March 12 (Bloomberg) -- Brad Hintz, an analyst at Sanford C. Bernstein & Co., talks with Bloomberg's Erik Schatzker about a report on the failure of Lehman Brothers Holdings Inc., which concluded the company used off-balance-sheet transactions to understate its leverage in late 2007 and 2008, deceiving shareholders about its ability to withstand losses.

Then-Chief Executive Officer Richard Fuld was “at least grossly negligent” for letting Lehman file financial reports in which a key gauge of strength was “reverse-engineered” through transactions known as Repo 105s, bankruptcy examiner Anton Valukas said in the report. Hintz is a former Lehman chief financial officer. (This report is an excerpt. Source: Bloomberg)

Running time 03:18

[snowydog]

I just do not see how blame against auditors and CFO's is going to materially effect recoverable assets...especially when we are talking billions.

Just my take - I own a sizable position so I wish this to rocket as much as anyone.