Goldman Sachs and the Sale Gone Horribly Awry

One for the "books"--

Goldman Sachs and a Sale Gone Horribly Awry - NYTimes.com:  "The deal closed on June 7. By Aug. 8, the merged companies were in crisis amid reports that L.& H. had cooked its books. Reporters for The Wall Street Journal did something the Goldman Four did not: they picked up the phone and called L.& H.’s supposed customers in Asia. They found that companies in South Korea and elsewhere that L.& H. had claimed were its customers weren’t doing any business with it at all. L.& H. had pulled sales figures out of thin air."

So much for "due diligence."

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