Does it prove he's too close to Wall Street? That he won't take off the kid gloves when it comes to confidantes like Jamie Dimon, CEO of JPMorgan Chase? It's worth nothing that the Lehman report does implicate one of Obama's top financial figures, Tim Geithner. Geithner, the report says, was told directly about the "Repo 105" accounting gimmick, and how Lehman used it to move toxic assets of its book to look healthier (yet never reported Repo 105 on its regulatory filings); Geithner, when interviewed by the examiner, said he didn't remember being told about Repo 105. Yves Smith at Naked Capitalism put it best: "the NY Fed, and thus Timothy Geithner, were at a minimum massively derelict in the performance of their duties, and may well be culpable in aiding and abetting Lehman in accounting fraud and [Sarbanes-Oxley] violations." Maybe Obama doesn't want to burn one of his own so he's mostly ignoring the Lehman report.