Karl Denninger submits:
Sarbanes-Oxley was supposed to prevent crap like this:
click to enlarge
From the paper:
Lehman employed off-balance sheet devices, known within Lehman as “Repo 105” and “Repo 108” transactions, to temporarily remove securities inventory from its balance sheet, usually for a period of seven to ten days, and to create a materially misleading picture of the firm’s financial condition in late 2007 and 2008.