Will Lehman Brothers (Lehman Brothers news) ever be charged? It's been more than two years since the firm's collapse, and that is still far from certainty.

In the last month or so, we've seen a lot of activity, and the media has reported at various points that civil charges are imminent. We keep hearing that, and it may be that settlement talks are hot and heavy.

A little wrinkle: Larry McDonald, former Lehman executive and author of a new book, told FOX Business: "I think that we'll see charges. I thought we'd see some charges by now. But I think charges will happen some time in the next month or so," he said.

"I think that the government is fed up with this type of--these shenanigans right when you're reporting earnings," noted McDonald. "I mean think about the investors out there watching us right now. They're relying on earnings reports, they're relying on conference calls, they're relying on 10Qs, 10Ks. And in the case of Lehman Brothers, a lot of those things were not accurate."

The conventional view now is that prosecutors are zeroing on the Repo 105 transactions. Previously, many thought the focus was misleading disclosure. One issue remaining is whether any individual executives will be charged.

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