Goldman Says it Has Never Used Repo 105s
March 12, 2010 at 15:17 PM EST
After a report by a US bankruptcy-court examiner investigating the collapse of Lehman Brothers (LEHMQ) revealed last night that the 158-year-old company had used complicated accounting tricks, known as Repo 105, to reduce its reliance on borrowed money and conceal its dependence on leverage that eventually led to its undoing, banks are beginning to deny any involvement [...]