Lehman Brothers

FBI on Fannie, Freddie and 24 others' trail

September 25, 2008 General

Courtesy of Accountancy Age and The Independent, it seems the FBI is taking a keen interest in the collapse of certain US banks and other financial institutions. Those named so far include Lehman Brothers, AIG, Fannie Mae, Freddie Mac, New Century Financial and Countrywide Financial. According to those reports (The Independent): Investigators at the FBI [...]

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Speculating on EY's future

September 23, 2008 General

With the demise of Lehman Brothers, Ernst & Young’s $31 million annual fee just went out the window. It’s a tiny amount in the scheme of things when you think that EYs last year’s global revenue came in at $21.1 billion. The bigger problem will be the lawsuit PwC‘s advisors Linklaters are almost certain to [...]

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The irony of the financial crisis

September 19, 2008 General

The BEST ad ever from AIG to avoid disastersTwo stories, one reflected up on by Jeff Nolan and another extracted by Richard Murphy made me think about the irony of what’s going on in the US right now and which may yet wash over to Europe. The first story from the NY Times lucidly explains [...]

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If PwC can't work it out then how do they audit?

September 18, 2008 General

PwC is sifting through the bones of Lehman Brothers and according to Accountancy Age: There has been speculation that PwC will have to hire specialists to make sense of the investment bank’s derivatives contracts, but all the initial work, apart from legal advice, is being handled by the firm, it said. If that’s the case [...]

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