Lehman Brothers

Tuesday's hearing on Lehman Brothers' now infamous Repo 105 scam was only tangentially related to the megabank's accounting deceptions and subsequent collapse. That story is simple: Lehman almost certainly committed fraud, regulators failed to stop it, and many of the people who screwed up under President George W. Bush inexplicably remain in power under President Barack Obama. more »

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4:40

Black just said Repo 105 was not just fruad, but a felony. It was a deliberate misrepresentation of the company's financial condition that was "material" to investors. more »

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Alan Greenspan testifies before the Angelides Commission on Wednesday. Without wishing him any personal ill will, let's hope he gets a grilling. We come not to bury Greenspan, but to ... well, actually we do come to bury him. For the greater good of all, he and the radical philosophy he represents must be exposed for all to see.

Paul Krugman observed the other day that Greenspan is "still not a mensch," and that's putting it mildly. Greenspan's engaged in a full-scale media blitz to convince the public that he still deserves to be called the "Maestro," s he once was by an adoring press and DC establishment. But underlying Greenspan's words and deeds, almost invisibly, is a extremist philosophy that has captured financial policy. more »

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Treasury Secretary Tim Geithner delivered a populist stemwinder of a speech the other day, bringing his rhetorical A-game with comments like these: "Listen less to those whose judgments brought us this crisis. more »

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