And contained in the Bloomberg story is this story idea from investment pro and blogger Janet Tavakoli, last seen here at The Audit standing up to the know-nothings on CNBC:

“Repos were just one of many ways to hide losses,” said Janet Tavakoli, president of Chicago-based financial consulting firm Tavakoli Structured Finance Inc. “All of the former investment banks used those techniques. All of them borrowed too much money and were overleveraged.”

Also, The Wall Street Journal’s Peter Eavis had a smart, as usual, take on what the Lehman report means for transparency and accountability, and the Journal also was good to look at the repo market on Saturday.

But the non-MSM blogs have led on this story.

It’s early yet, but that’s the rub with the stuffed stories today. If Lehman is slipping off the radar screen already, it seems unlikely we’ll see the full follow-through we need.

UPDATE: For more on coverage of Lehman, see my post on Clusterstock’s John Carney falling all over himself arguing that Lehman execs shouldn’t be prosecuted.


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Ryan Chittum is a former Wall Street Journal reporter, and deputy editor of The Audit, CJR's business section. If you see notable business journalism, give him a heads-up at rc2538@columbia.edu. Follow him on Twitter at @ryanchittum.