#52 Lehman Brothers

Lehman Brothers was a global financial services firm that was founded in 1850 and headquartered in New York City. It was one of the oldest and largest investment banks in the United States. Over the years, Lehman Brothers was involved in various financial activities, including investment banking, trading, asset management, and other financial services.
However, Lehman Brothers became infamous for its involvement in the global financial crisis of 2007-2008. The company had heavily invested in mortgage-backed securities and other risky assets tied to the housing market. When the housing bubble burst and mortgage defaults surged, Lehman Brothers faced massive losses and was unable to secure additional capital to cover its obligations.
In September 2008, Lehman Brothers filed for Chapter 11 bankruptcy protection, marking one of the largest bankruptcies in U.S. history. The bankruptcy had far-reaching consequences and contributed to the deepening of the financial crisis. It triggered a severe shock to the global financial system, causing widespread panic, liquidity problems, and a sharp decline in confidence among financial institutions.
The collapse of Lehman Brothers led to a series of government interventions and policy measures aimed at stabilizing the financial markets and preventing further systemic failures. These interventions included massive bailouts of other financial institutions, regulatory reforms, and stimulus packages.
The failure of Lehman Brothers is often considered a turning point in the financial crisis, as it highlighted the vulnerabilities within the financial system and underscored the need for better risk management and regulation in the banking sector. The aftermath of the crisis had a lasting impact on global economies and led to significant changes in financial regulations and oversight.

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