Tags: US | Bernanke | Lehman

Fed Boss Didn't Know Lehman Masked Its Debt

Monday, 19 Apr 2010 04:11 PM

Federal Reserve Chairman Ben Bernanke says the Fed wasn't aware that now-defunct Lehman Brothers used an accounting gimmick to mask billions in debt in the run-up to the 2008 financial crisis.

Bernanke, in prepared remarks to a House committee, says even if it did, the information wouldn't have changed the Fed's view that the investment firm was in bad financial shape.

The remarks were released Monday in advance of Tuesday's hearing.

Although Securities and Exchange Commission was Lehman's chief regulator, the Fed did begin to monitoring the firm as financial stresses heightened.

© Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

 
1Like our page
2Share
FinanceNews
Federal Reserve Chairman Ben Bernanke says the Fed wasn't aware that now-defunct Lehman Brothers used an accounting gimmick to mask billions in debt in the run-up to the 2008 financial crisis.Bernanke, in prepared remarks to a House committee, says even if it did, the...
US,Bernanke,Lehman
92
2010-11-19
Monday, 19 Apr 2010 04:11 PM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved