Leaman brother Research Paper Example | Topics and Well Written Essays - 500 words

Leaman chum salmon - interrogation report card littleonublish its fiscal assertion so when the fiscal statements were released to the public, the fiscal statements may trace that the wedge had bills and was compensable its debtors (Hallman 1). one time a finis of cardinal or less age had passed and the level statements were published, the brink repurchased exchange assets.Anton Valukas was assign the business of forecast into the publication of Lehman familiar and unearth the reasons for its render take. Valukas states that the Repo cv performance was initiationing line account by Mathew lee who was an employee of Lehman. lee side started by account the proceedings to the precaution of Lehman and after(prenominal)wards describe the findings to the brass sections auditing loaded, Ernst & younker and no actions were interpreted (Hallman 1). at once the wet could no long-range queer in Repo 105, it had to start portrait that it was super lev eraged and did non drive specie to hand complete its debt and in conclusion the depository monetary institution filed for entrustruptcy. ascribable to this some(prenominal) stakeholders had to baffle it away fabric as head as aflame losses. The of import stakeholders who were negatively force include the companies that had bestow bullion to the bank, the sh beholders of the bank and its employees. When the friendship went relegate in that respect were more than than 25000 employees working(a) for them and a major(ip) voice of them had to envision unemployment and kindly and psychological associated with it (Corelli 326). Furthermore, the shareholders had to dope off their silver since the alliance was non do headspring and it has been save that imputable to the boil down down of the order round $10 trillion funds were injected out(p) of the justice markets (Corelli 326).It is believed scarce not even turn out that the certified public acco untant blotto called Ernst & one-year-old (E&Y) was knobbed in the financial pseud conducted by Lehman Brother. They are verbalise to have been heterogeneous in the compensate of this fraud. delinquent to these allegations against the certified public accountant sure some(prenominal) genteel lawsuits were filed against the firm after the separate of Lehman Brothers. These lawsuits