Lehman Brothers engaged in accounting manipulation by moving $50 billion to different accounts to improve its balance sheet. This included using short term loans to mask debt right before reporting periods. An investigation found serious issues with the company's accounting practices and oversight. The collapse of Lehman Brothers contributed to the 2008 financial crisis and recession as it was a major bankruptcy that shook global financial markets and decreased confidence.

1. The bank to big to fail
THE LEHMAN BROTHERS SCANDAL

2. COMPANIES INVOLVED
• Lehman Brothers Holdings Inc.

3. THE ALLEGATIONS
• Moved $50 billion to different accounts on their balance sheets
• Balance sheet manipulation
• Employees not doing their jobs

4. WHO WAS INVOLVED?
• Ernst & Young- Audit firm
• Timothy Geithner- Didn’t save Lehman
• Geoffrey Feldkamp- Lehman executive
•
• Anton R. Valukas- Independent who found everything out

5. RESULT OR LATEST DEVELOPMENT
• Money being borrowed that couldn’t be repaid
• Lenders should have known
• Investors betting against themselves
• Everyone was watching and waiting
• Contributed to the depression
• Today trying to pay it back

6. WHY IS THIS ALLEGATION CONSIDERED WRONG?
• Average people didn’t know
• Powerful profited
• People thought money was being made
• They kept investing
• Repo 105

7. EFFECTS ON BUSINESS
• How pay attention to these things
• Shows corruption
• Other banks have grown
• Protective laws placed
• Awareness
• Last survivable collapse

8. ADDITIONAL INFORMATION
• Moved $50 billion to short term loans
• At the end of the quarter
• 32 stories down to 2
• Repaying off holders

9. INFORMATION SOURCES
• "Lehman Brothers, We Heard You Were Dead - NYTimes.com." 2012. 10 Dec. 2012
http://www.nytimes.com/2012/09/16/magazine/lehman-brothers-we-heard-you-were-
dead.html?pagewanted=all
• "Lehman Brothers, We Heard You Were Dead - NYTimes.com." 2012. 10 Dec. 2012
http://www.nytimes.com/2012/09/16/magazine/lehman-brothers-we-heard-you-were-
dead.html?pagewanted=all
• "Lehman Brothers' 'Repo 105' Accounting Scandal." 2010. 11 Dec. 2012
http://www.wealthdaily.com/articles/lehman-brothers-enron-accounting-gimmicks/2375
• "Lehman Brothers Scandal Rocks the Fed » Counterpunch: Tells the ..." 2011. 11 Dec.
2012 http://www.counterpunch.org/2010/03/15/lehman-brothers-scandal-rocks-the-fed/
• "Lehman Brothers Scandal Rocks the Fed » Counterpunch: Tells the ..." 2011. 11 Dec.
2012 <http://www.counterpunch.org/2010/03/15/lehman-brothers-scandal-rocks-the-fed/>

10. PICTURE SOURCES
• http://www.google.com/imgres?q=lehman+brothers&num=10&hl=en&tbo=d&biw=836&bih=903&tbm=isch&tbnid=VMLYRZYxmxiArM:&imgrefurl=http://abcnews.go.c
om/topics/business/companies/lehman-brothers-holdings.htm%3Fmediatype%3DImage&docid=0G6Ks-jvzUV-
dM&imgurl=http://abcnews.go.com/images/Business/Lehman_building_080317_mn.jpg&w=320&h=240&ei=dzDGUO7lCYSy0AGDwICgCg&zoom=1&iact=hc&vpx=4
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• http://www.google.com/imgres?q=lehman+brothers+business&hl=en&tbo=d&biw=836&bih=903&tbm=isch&tbnid=7p0tPO3YdQ1adM:&imgrefurl=http://www.thfire.co
m/date/2010/09&docid=qCN3wQSP8e4rgM&imgurl=http://www.thfire.com/wp-content/uploads/2010/09/lehman-brothers-
artwork.jpg&w=610&h=407&ei=4DDGUOC1NOfO0QHqsYHoCg&zoom=1&iact=hc&vpx=4&vpy=264&dur=261&hovh=183&hovw=275&tx=120&ty=134&sig=1113150
01102527574855&page=1&tbnh=159&tbnw=265&start=0&ndsp=20&ved=1t:429,r:4,s:0,i:95
• http://www.google.com/imgres?q=lehman+brothers+latest+news&num=10&hl=en&tbo=d&biw=836&bih=903&tbm=isch&tbnid=9-
5vZhVm8yN_zM:&imgrefurl=http://pokerknave.com/tag/betting/&docid=Ggt1lEGxOp4VsM&imgurl=http://pokerknave.com/files/2012/07/Lehman-Brothers-US-
investment-bank.jpg&w=2348&h=2527&ei=0jHGUPDbOMeF0QGI2YBo&zoom=1
• http://www.google.com/imgres?q=lehman+brothers+logo&hl=en&tbo=d&biw=856&bih=883&tbm=isch&tbnid=JyksTyIt2EjwAM:&imgrefurl=http://visitbulgaria.info/leh
man-brothers-britain-placed-
administration&docid=J4BR7MgrBKi77M&imgurl=http://visitbulgaria.info/files/Logo_LehmanBrothers%255B1%255D.gif&w=278&h=179&ei=u3nHUN-
RGarO0QGttIGIDw&zoom=1&iact=hc&vpx=168&vpy=198&dur=113&hovh=143&hovw=222&tx=66&ty=78&sig=111315001102527574855&page=1&tbnh=143&tbnw=
216&start=0&ndsp=24&ved=1t:429,r:1,s:0,i:113
• http://www.google.com/imgres?q=timothy+geithner&num=10&hl=en&tbo=d&biw=1024&bih=883&tbm=isch&tbnid=wg5aNJD8qX2guM:&imgrefurl=http://en.wikipedia.
org/wiki/Timothy_Geithner&docid=AAvzP-
M5zAXdCM&imgurl=http://upload.wikimedia.org/wikipedia/commons/thumb/b/bd/Timothy_Geithner_official_portrait.jpg/220px-
Timothy_Geithner_official_portrait.jpg&w=220&h=308&ei=Q8bIUPurING-
0QGHgoGoCg&zoom=1&iact=hc&vpx=4&vpy=146&dur=296&hovh=246&hovw=176&tx=121&ty=239&sig=111315001102527574855&page=1&tbnh=158&tbnw=111&
start=0&ndsp=26&ved=1t:429,r:0,s:0,i:152
• http://www.google.com/imgres?q=anton+r+valukas&num=10&hl=en&tbo=d&biw=1024&bih=883&tbm=isch&tbnid=E7nOm80h9WjkaM:&imgrefurl=http://jenner.com/p
eople/AntonValukas&docid=i4rP5QPvnF7a3M&imgurl=http://jenner.com/system/assets/people/113/profile/Valukas_Anton_COLOR.jpg%253F1311782032&w=265&
h=265&ei=0MbIULvYDamp0AHW9IGQCg&zoom=1&iact=hc&vpx=4&vpy=119&dur=218&hovh=212&hovw=212&tx=75&ty=109&sig=111315001102527574855&sqi=
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