Barclays exec describes Lehman's derivatives records

08/30/2010 | Bloomberg

Elizabeth James, director of futures business at Barclays, told a bankruptcy court that the bank did not have a clear grasp of Lehman Bros.' derivatives business when Barclays was looking into acquiring its derivatives trades in 2008. "Lehman's books were in such a mess that I don't think they knew where they were," James said.

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