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Here is a good video from Marketplace Senior Editor Paddy Hirsch explaining the mechanics of the now infamous Lehman Brothers 105 transactions.
One or two tidbits, first. Even though Hirsch mentions Lehman undertook these transactions to pretty itself up during the credit crisis, evidence shows they had been doing these sale Repo agreements since 2001.  [...]

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Lehman Brothers
Lehman Hid Money With Help of Global Rules – DealBook Blog – NYTimes.com
The Lehman Report: Is It Time for a Special Prosecutor?: Rational Irrationality : The New Yorker
Lehman: Regulators Chose to Deny, Extend and Pretend « naked capitalism
Another Disturbing Finding in Lehman Bros. Report | The Huffington Post Investigative Fund
The [...]

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Lehman

Lehman Whistle-Blower’s Fate: Fired – WSJ.com
Blogs Beat the Press on the Lehman Brothers Scandal : CJR
ABN Amro hielp Lehman bij manipulatie – Het Financieele Dagblad
Dealbook Column – At Lehman, Watchdogs Saw It All – NYTimes.com
Lehman’s Repo 105: More Than You Ever Wanted to Know – MarketBeat – WSJ

Financial News

Mish’s Global Economic Trend Analysis: Misconceptions [...]

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Tea Party Avoids Divisive Social Issues – NYTimes.com
What’s Happening to China’s Migrant Workers? A New Generation Coming and Going – The China Sourcing Blog
States may hold onto tax refunds for months – USATODAY.com
Fed Helped Bank Raise Cash Quickly – NYTimes.com
U.S., Europe at odds over global financial reform – washingtonpost.com
China May [...]

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Apparently, some of the ‘best reforms’ now being instituted in the U.S. to prevent a liquidity crisis in the future include limitations on demand deposits (hat tip Karl Denninger). What financial institutions are trying to prevent is a bank run in whatever form it can take – via depositors in the case of IndyMac and [...]

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There are a lot of interlocking threads in the Greek saga. One consistent theme that ties all of the different threads together is the fragility of complex systems. In our globalized and complex world of finance and banking, every major actor has  innumerable ties to other major actors such that devastating collapses in one entity [...]

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Today President Obama is set to propose wide-ranging moves on bank regulation first proposed by his economic advisor Paul Volcker, the former Federal Reserve Chairman. Details of the proposal have yet to be released. However, the focus is expected to center on strict bank size limits and a limitation on proprietary trading at regulated banks [...]

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Damaging e-mails have revealed that Treasury Secretary Timothy Geithner urged AIG to withhold crucial information about the deterioration of its financial condition in the lead up to its demise.  This will put further political pressure on Geithner, who has already been exposed for his dubious role in the Lehman Brothers bankruptcy.
Bloomberg leads into the story [...]

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This is my translation of a Dutch-language article which appeared today in Belgian daily De Tijd. Let’s see if this news is picked up in the U.S.
Citibank Belgium never should have recommended the controversial Lehman Brothers investments to its customers. So states the writ of the Brussels public prosecutor on the case.
The collapse of Lehman [...]

Bankruptcy is a necessary part of a free market. I certainly believe this to be so. Rick Newman, who writes the blog “Flow Chart” over at U.S. News, is putting forward the provocative idea that failure is exactly what we needed more of in 2008 and what we should want in 2009.