I would like to know what were the accounting loopholes the Lehman brothers used to hide loans as sales which were discovered during the 2008 financial crisis. And also give an elaborate explanation on what could have been done differently/ rules and policies implemented to prevent issue and the collapse of the firm?

Lastly, was the repealing of the Glass-Steagall Act a major catalyst?

Answer rating: 100% (QA)

During the 2008 financial crisis it was discovered that Lehman Brothers used an accounting loophole known as Repo 105 to hide its true financial posit... View the full answer