Brad Hintz Discusses Bankruptcy Report on Lehman: Video

March 12 (Bloomberg) -- Brad Hintz, an analyst at Sanford C. Bernstein & Co., talks with Bloomber...  More »

March 12 (Bloomberg) -- Brad Hintz, an analyst at Sanford C. Bernstein & Co., talks with Bloomberg's Erik Schatzker about a report on the failure of Lehman Brothers Holdings Inc., which concluded the company used off-balance-sheet transactions to understate its leverage in late 2007 and 2008, deceiving shareholders about its ability to withstand losses. Then-Chief Executive Officer Richard Fuld was “at least grossly negligent” for letting Lehman file financial reports in which a key gauge of strength was “reverse-engineered” through transactions known as Repo 105s, bankruptcy examiner Anton Valukas said in the report. Hintz is a former Lehman chief financial officer. (This report is an excerpt. Source: Bloomberg)  « Less