The technique, called “Repo 105”, was used to temporarily remove 50 billion US dollars of assets from the US investment bank's balance sheet in 2008, according to a one-year investigation.

Lehman was not only massively exposed to the market, but had also been using a questionable (to put it incredibly forgivingly) accounting convention called "Repo 105" to make its balance sheet ...

The Lehman problem was in reality a much simpler and rather old-fashioned one. Lehman had adopted accounting practices (the use of Repo 105 to shift property exposure off the balance sheet) that New ...