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gyptisches viagra viagra in holland kaufen gesucht The second part — the SEC’s apparent conclusion that the Repo 105 shenanigans weren’t actionable fraud because they didn’t cause Lehman’s collapse and weren’t material to investors — is more interesting. It’s debatable, for one thing; Lehman’s bankruptcy examiner certainly thought that Lehman’s artificial deleveraging via Repo 105 was material.***** But you can understand the SEC’s view: Lehman’s problems were not really about its poorly disclosed shady financing of certain mostly low-risk and liquid investments.****** Lehman’s problems were rather the traditional ones: short-term financing of long-term investments, which required Lehman to retain the confidence of the markets, coupled with bad decisions about those long-term investments that caused Lehman to lose that confidence.
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