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That's what that industry did to me
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Inside Lehman Brothers

That's what thatindustry did to me, and the fraud and BNC

That's what that
industry did to me, and the fraud and BNC

Full Transcript

00:00:01.000 --> 00:00:03.617
That's what that industry did to me,
00:00:03.711 --> 00:00:06.124
and the fraud and BNC.
Duration
6 seconds
Views
35
Timestamp in Movie
00:48:57
Uploaded
Jun 26, 2025
Genres
documentary
Production
N/A

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Movie Summary

Inside Lehman Brothers is the autopsy of a crime by those who tried to prevent it from within. Mortgage brokers from California and a handful of New York executives called out these fraudulent transactions. But nobody listened.
I left BNC and I did go to work for Countrywide. - Inside Lehman Brothers 00:06
I left BNC and I did go to work for Countrywide.
The same issues were present at Countrywide - Inside Lehman Brothers 00:10
The same issues were present at Countrywide
And then I got a job with another company, - Inside Lehman Brothers 00:07
And then I got a job with another company,
So, in that three years, - Inside Lehman Brothers 00:06
So, in that three years,
During that time, I was turned down left and right. - Inside Lehman Brothers 00:06
During that time, I was turned down left and right.
I could not get any job in the mortgage industry. - Inside Lehman Brothers 00:04
I could not get any job in the mortgage industry.
By 2007 you knew things were going downhill. - Inside Lehman Brothers 00:06
By 2007 you knew things were going downhill.
And then our financial year was November 30th, 2007. - Inside Lehman Brothers 00:06
And then our financial year was November 30th, 2007.
And we had a record year. The best year ever at Lehman Brothers. - Inside Lehman Brothers 00:04
And we had a record year. The best year ever at Lehman Broth...
I thought, um, - Inside Lehman Brothers 00:05
I thought, um,
Lehman in the spring of 2008 - Inside Lehman Brothers 00:10
Lehman in the spring of 2008
The only way that Lehman could get rid of assets - Inside Lehman Brothers 00:06
The only way that Lehman could get rid of assets
The problem was that the assets they had, - Inside Lehman Brothers 00:04
The problem was that the assets they had,
A repo is a sale with an agreement to buy back later. - Inside Lehman Brothers 00:05
A repo is a sale with an agreement to buy back later.
Repo 105. - Inside Lehman Brothers 00:04
Repo 105.
Repo 105 was a method of hiding how much you borrowed. - Inside Lehman Brothers 00:04
Repo 105 was a method of hiding how much you borrowed.
And what it involved, essentially, was - Inside Lehman Brothers 00:13
And what it involved, essentially, was
Assets were transferred from the United States subsidiary - Inside Lehman Brothers 00:16
Assets were transferred from the United States subsidiary
And at the end of a few days after the quarter, - Inside Lehman Brothers 00:09
And at the end of a few days after the quarter,
The whole purpose of this - Inside Lehman Brothers 00:09
The whole purpose of this