“We stand by the audit opinions issued by Ernst & Young relating to the financial statements of Lehman Brothers.”
~ Sarah Jurado, a spokeswoman for Ernst & Young in the UK, who sounds like she’s got the talking points down, quoted in Bloomberg.
Related Posts
What Did Ernst & Young Call Lehman’s ‘Goat Poo’ Assets?
- Caleb Newquist
- February 19, 2011
Considering E&Y was, ya know, the auditors and all, they should have been aware that these assets were a grade or two (or three) below human excrement and probably had some name for them.
Lehman Brothers Holdings Inc (LEHMQ.PK) filed for bankruptcy on Sept. 15, 2008 and then quickly sold its prize investment banking assets to Barclays Bank (BARC.L). JPMorgan had been Lehman’s banker. The court papers, filed in U.S. Bankruptcy Court in Manhattan on Thursday, said that Barclays and Lehman called certain Lehman assets “toxic waste” and “goat poo” and knowingly excluded them from their sale agreement.
Jim Turley has been a willing participant in this whole thing so far but were far more interested in what you guys think.
JPMorgan says Lehman called assets “goat poo” [Reuters]
Share this:
Good Thing They Had Auditors
- Caleb Newquist
- August 31, 2010
“Lehman’s books were in such a mess that I don’t think they knew where they were.”
~ Elizabeth James, a director of Barclays’s futures business, testifying in bankruptcy court.
Share this:
EY Offers Its Fathers 6 Weeks Paid Paternity Leave, But Do Dads Actually Take It?
- Adrienne Gonzalez
- June 13, 2014
We've been on an "inclusiveness" kick lately and I'd apologize for that except Colin told […]