More on the scandal that is brewing in connection with the last months of Lehman Bros.: Today's New York Times business section has an article, At Lehman, Watchdogs Saw It All, that goes further in suggesting complicity on the part of the NY Fed, under the leadership of one Timothy Geithner, in Lehman's efforts to disguise the depth of its problems.
Here's an interesting piece from Bill Black, former banking regular and occasional D&S author, and Eliot Spitzer, disgraced former governor of New York (has he been rehabilitated? or are there some topics that we just trust him on?); they are calling for an investigation of the Lehman revelations. It is from the Roosevelt Institute's New Deal 2.0 project; hat-tip to LP for bringing my attention to this.
Time for Truth: Three Card Monte is for Suckers
Eliot Spitzer and William Black call for an immediate Congressional investigation of Lehman’s accounting deception and the release of relevant emails and internal documents.
Eliot Spitzer is a former attorney general and governor of New York.
Roosevelt Institute Braintruster William Black is a professor of economics and law at the University of Missouri-Kansas City.
Read the original article.
