As we know, the recession in United States of America was mainly triggered when one of the most prestigious investment bank, Lehman Brothers, went bankrupt. So far the government has not been able to clearly blame someone for this.

Recently, Attorney General Andrew Cuomo has accused Ernst & Young, a reputed accounting firm, of covering up Lehman Brothers ill condition before it went bankrupt.

Cuomo has blamed Ernst & Young for assisting Lehman Brothers in covering up its true condition by focusing on few short-term transactions that enabled Lehman Brothers to look more secured than they were actually at that point in time.

So far several accusations have been made in order to put blame on someone regarding the financial crisis. It is interesting to see how Ernst & Young will handle this situation.