Tuesday 18 December 2018
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inquirer - 3 month ago

A look back at ‘Lehman Weekend,’ biggest bankruptcy in US history

It was Lehman Weekend. The moment in September 2008 when the 150-year-old investment bank Lehman Brothers collapsed, precipitating the worst global economic crisis since the 1930s. After failing to find buyers for the troubled financial giant, that was weighed down by risky debt holdings made up of at subprime mortgages, US authorities declined to offer a bailout and allowed the institution to fail. Monday, September 15, 2008, at 1:45 am, Lehman Brothers filed for bankruptcy, taking the world by surprise

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