http://globaleconomicanalysis.blogspot.com/2008/03/questions-linger-over-lehmans-balance.html
The income statement is the past and the balance sheet is the future, especially now.
At the top of a credit cycle, the income statement for a financial institution shows “the best of times”, but buried in the balance sheet is “the worst of times” to come.
Lehman looks dead its cooking the books
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