Ernst & Young will remember the bankruptcy of Lehman Brothers

Banks Finansy23-12-2010 Ernst & Young will remember the bankruptcy of Lehman Brothers U.S. officials have pressed charges against one of the world's largest auditing firms Ernst & Young, a member of the "big four" major rating agencies. It is believed the prosecutor's office of New York the company has helped in hiding toxic assets by 50 billion and involved the bankruptcy of the largest investment bank Lehman Brothers. The collapse of the financial conglomerate, has assets worth over 600 billion dollars and considered inviolable, launched the mechanism of crisis of 2008-2009. Lehman Brothers hid the growing problem assets, clearing the balance by Repo 105 - one way of accounting veiling balances. Bank transfers toxic assets in their London branch «Lehman Brothers International».'s assets were sold to a third party with the obligation to buy them back within a certain time. By reporting the transaction as a sale held asset, not as borrowing against securities with the obligation of further compensation. It is assumed that Lehman Brothers held such repos since 2001. In this way only for 2007-2008 was derived about $ 50 billion As a result, borrowings Lehman exceeded their own 44 times.