According to the 2,200-page court examiner’s report this practice, known as “Repo 105” (“Repo”? Really, why not call it “Steal 105”?), was like “a drug” propelling the bank to conceal the true nature of its financial health.
The collapse of “venerable” Wall Street investment house Lehman Brothers was the largest bankruptcy in U.S. history. Here’s Dylan Ratigan and Eliot Spitzer making sense of what is clearly a crime against the economic health of the United States: