# Repo 105

`kaal:entity:repo-105`

**Status.** derived

This node is assembled mechanically from the 2 claims that carry the concept tag `repo-105`. It is a roster of what the corpus says under this term. It is **not** an adjudicated definition: no single statement here has been ruled canonical, and no first-appearance call has been made. Read the claims and judge for yourself.

## Every claim under this term

2 claims across 2 works, 2010 to 2010.

**2010**

- [1558614-029](https://wulfkaal.github.io/claims/1558614-029) [failure/evidenced] *(failure mode)* -- Routine engagement in highly complex transactions lets public companies conceal risky transactions from investors and even from their own directors, which is a structural weakness in the supposedly rigorous U.S. disclosure regime.
  > Public companies that engage in highly complex transactions as a matter of course can easily conceal risky transactions from investors. Indeed, management can also conceal these transactions from the company's own direc- 160 tors.
  Painter and Kaal, Initial Reflections on an Evolving Standard Constraints on Risk Taking by Directors and Officers in (2010). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1558614
- [1664809-007](https://wulfkaal.github.io/claims/1664809-007) [mechanism/evidenced] -- The Lehman Repo 105 transactions, consummated in London but booked as sales in Lehman's US securities filings, underscore the effect that conduct in one country can have on markets elsewhere.
  > the affect that conduct in one country can have on markets
  Richard W. Painter, Wulf A. Kaal, Extraterritorial Application of US Securities Law – Will the US Become the Default Jurisdiction for (2010). SSRN: https://ssrn.com/abstract=1664809

## Verify

Every claim above resolves to a record carrying a verbatim source quote, the sha256 of the source PDF, and a preformatted citation. Nothing here asks to be taken on trust.

    curl -s https://wulfkaal.github.io/entities/repo-105.md | sha256sum

**Canonical form.** This markdown file is the canonical hashed representation of this entity node. Its sha256 is the content hash.