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WASHINGTON — The former chief executive of Lehman Brothers said he has “absolutely no recollection whatsoever” about an accounting maneuver that a bankruptcy examiner says the company used to mask its perilous financial condition.
Richard Fuld, Lehman’s former CEO, said he does not recall seeing any documents related to the so-called Repo 105 accounting gimmick, according to testimony prepared for a House hearing today.
“The result is that Lehman and its people have been unfairly vilified,” Fuld said.
A report found that the firm masked $50 billion in debt by using the accounting maneuver.
