U.K. reviews E&Y's role in hiding $50 billion in Lehman loans

The U.K. Financial Reporting Council has asked Ernst & Young for an explanation regarding an accounting move that allowed Lehman Bros. to keep $50 billion in risky loans off its books shortly before it went bankrupt. A bankruptcy examiner's report strongly criticizes the Lehman auditor for its role in the bank's collapse. The council said it is gathering information on the "Repo 105" transaction.

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