Drama, Film, and Mass Communication homework help

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Complete 2 page APA formatted essay: Leaman brother.ublish its financial statement so when the financial statements were released to the public, the financial statements may depict that the bank had money and was paying its debtors (Hallman 1). Once a period of seven or less days had passed and the account statements were published, the bank repurchased sold assets.Anton Valukas was assigned the duty of look into the matter of Lehman Brother and unearth the reasons for its fall down. Valukas states that the Repo 105 transaction was first reported by Mathew Lee who was an employee of Lehman. Lee started by reporting the transactions to the management of Lehman and later reported the findings to the organization’s auditing firm, Ernst & Young and no actions were taken (Hallman 1).Once the firm could no longer indulge in Repo 105, it had to start depicting that it was highly leveraged and did not have money to pay off its debt and ultimately the bank filed for bankruptcy. Due to this several stakeholders had to experience material as well as emotional losses. The main stakeholders who were negatively impacted included the companies that had lent money to the bank, the shareholders of the bank and its employees. When the company went bankrupt there were more than 25000 employees working for them and a major percentage of them had to experience unemployment and social and psychological associated with it (Corelli 326). Furthermore, the shareholders had to lose their money since the company was not performing well and it has been recorded that due to the fall down of the company around $10 trillion funds were injected out of the equity markets (Corelli 326).It is believed but not yet proven that the CPA firm called Ernst & Young (E&Y) was involved in the financial fraud conducted by Lehman Brother. They are said to have been involved in the cover-up of this fraud. Due to these allegations against the CPA firm several civil lawsuits were filed against the firm after the collapse of Lehman Brothers. These lawsuits