CSPAN2 Tonight From Washington March 17, 2010
outside order, apparently became comfortable with and never objected to the repo 105 transactions. and while lehman could never find a u.s. law firm to provide an opinion that treating the repo 105 transactions as a sale for accounting purposes legal, the british law firm, link ladders, provided an opinion letter under british law that they were sales and not merely financing agreements. and so lehman ran the transactions through its london subsidiary and used several foreign bank counterparties. mr. president, the s.e.c. and justice department should pursue a thorough investigation,...
Source: archive.org