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Surprises

Lehman Derivatives Bookkeeping Was 'A Mess.'

As one might expect from the company that suffered the biggest U.S. bankruptcy ever, Lehman Brothers conducted less-than optimal oversight of its businesses. Our suspicions to that effect were confirmed today at a U.S. Bankruptcy Court proceeding in Manhattan. Barclays futures director Elizabeth James, who was involved when Barclays bought Lehman out of bankruptcy in September 2008, said, “Lehman’s Read More