A costly spreadsheet error

An oversight on a spreadsheet appears to have resulting in Barclays overpaying substantially for Lehman assets during the credit crunch.

It appears that rows on an Excel spreadsheet represented Lehman assets. A second column held a Y/N value to indicate whether Barclays wanted the asset. A filter was placed to show only those ‘Y’ assets. However, as the document passed through various hands, the filter column was deleted, resulting in both Y and N rows being displayed. Hence, it would appear that Barclays ended up on the hook for more than it bargained for.

Further details can be read here.

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