Ernst & Young faces Lehman litigation following examiner's report

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  • Is this a Bull or Bear market? see what CNBC trader Larry Levin says on his newsletter column & learn exclusive trading at http://bit.ly/9nVCXD

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  • Of course there is the unwritten understanding that the world can't afford 'the big four' becoming 'the big three' and as a consequence (like the taxpayer funded guarantee to the banks) the big four know they can get away with negligence and deep conflicts of interest without serious sanction. Beautiful world for the haves!

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  • Unfortunate that in the same issue of your magazine there is a pull out regarding the new Bribery & Corruption Act which is sponsored by...yes you've guessed it...E&Y. E&Y remind us of the "immense" legal and reputational risks caused by the demands of regulators, the huge cost of e-discovery and "continued pressure from the US"...how right they were!

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  • I work in the accounting industry, and the auditors acted under existing rules and GAAP - Generally Accepted Accounting Principles. Not to mention that balance sheet management is a widespread practice. http://online.wsj.com/article/SB20001424052702304830104575172280848939898.html#mod=todays_us_money_and_investing

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