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  "documentTitle": "Lehman Brothers (LEH)",
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  "authorName": "David Einhorn",
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  "presentationDate": "2008-05-21 00:00:00",
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      "kind": "paragraph",
      "text": "If Mr. Walton is correct, why is he still employed...and making tens of millions?",
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      "kind": "paragraph",
      "text": "The double standard is evident. And Allied Capital is a primary example. Three years before my speech, Allied Capital's CEO, Bill Walton, made the following statement in a magazine interview:",
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      "text": "The issue of the proper use of fair value accounting isn't about strict versus permissive accounting. The issue is that some entities have made investments that they believed would generate smooth returns.",
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      "text": "One of the key issues I raised about Allied six years ago was its improper use of fair value accounting, as it had been unwilling to take write-downs on investments that failed in the last recession.",
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      "text": "Open and consistent accounting starts with an attitude of zero tolerance for improprieties. People need to see that people are rewarded for candor in reporting and punished for slipshod practices. The CEO really has to set the moral tone.",
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      "text": "FOIA CONFIDENTIAL TREATMENT REQUESTED BY LEHMAN BROTHERS HOLDINGS INC.",
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