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HomeDid Hudson Castle Facilitate Fraud at Lehman?
Posted by Larry Doyle on April 13th, 2010 1:33 PM |
Perpetrating a fraud is never as easy as it may appear. Although in hindsight frauds may appear to be simplistic, there are typically many more moving parts than meets the eye. To this end, the idea that Bernie Madoff perpetrated his massive Ponzi scheme by himself or with merely a few associates is beyond ridiculous. Just as Madoff had outside feeder funds and brokers that provided cover for him, today it appears that the once proud and venerable firm of Lehman Brothers also had an outside firm which enabled it to ‘manage its books.’ Who is this firm? An outfit known as Hudson Castle. Who is Hudson Castle and what was the nature of its relationship with Lehman? Let’s navigate. (more…)
Bloomberg’s Susan Antilla Exposes Lehman’s Charade
Posted by Larry Doyle on March 15th, 2010 10:54 PM |
Journalism is not dead.
I find it easy to critique financial journalists and journalism these days for not digging to expose the charades within the Wall Street-Washington incestuous liaisons; however, a few journalists are not beholden to the financial industry, do dig, and truly distinguish themselves in the process. The two finest journalists in this realm both happen to work at Bloomberg. One is Jonathan Weil. The other is Susan Antilla.
While many journalists have written about the finer points of repo financing and how Lehman cooked their books, Susan Antilla took the time to delve deeper into Anton Valukas’ expose on the inner workings of Lehman. (more…)
