Īfter Lehman Brothers filed for bankruptcy, global markets immediately plummeted. The market collapse also gave support to the " too big to fail" doctrine. Lehman's bankruptcy filing was the largest in US history, and is thought to have played a major role in the unfolding of the financial crisis of 2007–2008. The collapse was largely due to Lehman's involvement in the subprime mortgage crisis and its exposure to less liquid assets. On September 15, 2008, Lehman Brothers filed for Chapter 11 bankruptcy protection following the exodus of most of its clients, drastic declines in its stock price, and the devaluation of assets by credit rating agencies. Lehman was operational for 158 years from its founding in 1850 until 2008. Treasury securities), research, investment management, private equity, and private banking.
It was doing business in investment banking, equity, fixed-income and derivatives sales and trading (especially U.S. Before filing for bankruptcy in 2008, Lehman was the fourth-largest investment bank in the United States (behind Goldman Sachs, Morgan Stanley, and Merrill Lynch), with about 25,000 employees worldwide. ( / ˈ l iː m ən/ LEE-mən) was an American global financial services firm founded in 1847. Lehman Brothers Inc., Neuberger Berman Inc., Aurora Loan Services, LLC, SIB Mortgage Corporation, Lehman Brothers Bank, FSB, Eagle Energy Partners, and the Crossroads Group
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