In that six-page letter, he described how the hedge fund had collapsed after years of unsuccessfully trying to recoup hidden losses.

Banks will have to own up to some of their hidden losses, resulting in a second phase of the financial crisis.

That letter described hidden losses in partnerships and issued a warning that now appears prescient.

Even after she explained to him in detail the company's questionable accounting practices and huge hidden losses, she said, Mr. Lay still "didn't get it."

But, they added, the hidden losses did not result in losses for any Kidder customers or other Wall Street brokerage firms.

The higher the cell-count goes, the higher the hidden losses in yield and quality, which are probably greater than most people realise.

The partnership deals, so complex that even a diligent reader cannot help feeling lost but all adding up to fake profits and hidden losses.

Among Hartford's hidden losses during an otherwise booming decade of growth, one of the most bitterly missed has been the business-convention trade.

Though anticipated for months, Yamaichi's failure revealed far more hidden losses on the company's books than expected, caused by illegal reimbursement of some customers' trading losses.

At this time Enron executives, who possessed inside information on the hidden losses, began to sell their stock.