We have updated our Terms of Use.
Please read our new Privacy Statement before continuing.

Lehman legerdemain

11 September 2008 By Hugo Dixon

It’s not a bad idea in theory. But until the bank can actually complete a spinoff and raise external capital, the scheme to push $30bn of illiquid assets off its balance sheet is just accounting jiggerypokery. The market has seen through that.

This content is for Subscribers only

 

Email a friend

Please complete the form below.

Required fields *

*
*
*

(Separate multiple email addresses with commas)