A deeper examination of the relationship between all the audit firms and their clients on the issue of risk-obfuscation is needed. Limiting any inquiry to Lehman alone is inadequate. To start, here are a few simple questions.
If a corrupt scheme is "making money," everyone involved--from the culprits to the dupes--viciously attacks anyone who tries to expose it. Hedge fund manager Bill Ackman learned this lesson the hard way.