Monthly Archives: April 2010

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Accounting rules helped Lehman hide its shaky condition

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CPA Tom Selling thinks the House Financial Services Committee should examine whether the Financial Accounting Standards Board bears any responsibility for the economic damages caused by accounting rules he says allowed Lehman Brothers to misrepresent its financial condition. From his … Continue reading

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Lessons from the financial panic of 1890

A University of California professor finds that the financial panic of 1890, involving the Argentine banks and the House of Baring, a British investment bank that held large amounts of Argentine debt, was nearly identical to the financial crisis of … Continue reading

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FT: Repo revival nowhere in sight

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The vital U.S. repurchase market is 40 percent below its peak in early 2008 and has shown very little sign of rebuilding, the Financial Times reported April 14. The Times estimates the repo market at about $2.5 trillion, down from … Continue reading

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2005 Bankruptcy Act impacted repos and housing bubble

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The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 had a profound impact on the repurchase market, the housing bubble and the financial crisis of 2007 and 2008, several bankruptcy experts have concluded. Regarding repo, the act added mortgages … Continue reading