The Lehman innovation was systematic misreporting of its solvency, repeated quarterly to give a misleading impression to markets - aided by the Fed, which presumably was doing similar deals elsewhere on Wall St.

It's the difference between a one-off loan with full disclosure, and a quick bung between friends, which is never reported or disclosed.

In the UK it's illegal for a company to trade while insolvent. Lehman was insolvent in real terms, and was hiding that fact behind a facade of misreporting, creative accounting and generous undisclosed cash handouts from Timmy.