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The Wall Street investment services firm Lehman Brothers filed for Chapter 11 bankruptcy protection the morning of September 15, 2008, after an eleventh-hour deal from Bank of America to buy the company's assets fell through. Bank of America instead bought Merrill Lynch. Facing huge losses due to the subprime mortgage crisis, the future of the 158-year-old institution is in doubt. The company's subsidiaries were not included in the bankruptcy filing and will continue to operate normally.CNN: Lehman Brothers To File For Chapter 11 Bankruptcy (September 15, 2008)
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Fast Facts
- Lehman Brothers founded in 1850
- Lehman Brothers' failure could cause a "chain reaction" among investment institutionsLA Biz Observed: Bracing for the Big One (September 14, 2008)
- Filed for Chapter 11 bankruptcy
- Subsidiaries Neuberger Berman LLC and Lehman Brothers Asset Management not currently affected by bankruptcyCNN: Lehman Brothers To File For Chapter 11 Bankruptcy (September 15, 2008)
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Barclays Buy Up Assets
On September 16, Barclays bank made a deal to buy up certain assets from Lehman Brothers after the bank's collapse. Barclays had previously backed out of a deal to buy the investment bank lock, stock and barrel. Details weren't immediately available although people close to the deal said the assets would relate to Lehman's US broker-dealer operations.Financial Times: Barclays seals Lehman deal(September 16, 2008) -
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LA Times: Wall St. braces for Lehman bankruptcy
latimes.com (September 15, 2008) -
ABC News: Greenspan: Other Big U.S. Finance Firms May Fail
abcnews.go.com (September 14, 2008) -
Mail Online: Barclays eyes a chunk of bankrupt Lehman Brothers
dailymail.co.uk (September 16, 2008) -
Economist: Nightmare on Wall Street
economist.com (September 15, 2008) -
CNN: Lehman Brothers To File For Chapter 11 Bankruptcy
money.cnn.com (September 15, 2008) -
Financial Times: Barclays seals Lehman deal
ft.com (September 16, 2008) -
Guardian Interactive Guide: Banking crisis: Lehman Brothers
guardian.co.uk (September 15, 2008)
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LA Times: Wall St. braces for Lehman bankruptcy
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Lehman Bankruptcy on Twitter Powered by Twitter
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RT @Urbane_Gorilla RT @tradefast: $JPM sayeth: of the $660bn of cash that retail investors accmulated post Lehman bankruptcy, $142bn (22%..
@WMMBlog | November 10, 2009 05:42 PM -
RT @tradefast: $JPM sayeth: of the $660bn of cash that retail investors accmulated post Lehman bankruptcy, $142bn (22%) has been unwound.
@Urbane_Gorilla | November 10, 2009 05:37 PM -
$JPM sayeth: of the $660bn of cash that retail investors accmulated post Lehman bankruptcy, $142bn (22%) has been unwound so far
@tradefast | November 10, 2009 05:29 PM -
Managing liquidity key to good banking : Managing Lehman Brothers in bankruptcy is perhaps one of the biggest r.. http://bit.ly/3lh8Dv
@UAENews | November 10, 2009 04:34 PM -
Fannie Mae Files $15.8 Billion in Claims in Lehman Bankruptcy, http://bit.ly/26lpYD
@martyboardman | November 09, 2009 01:45 PM
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Lehman Bankruptcy on Amazon | View All
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Charlie Rose - Crisis on Wall Street (September 15, 2008) - $24.95
A discussion about the crisis on Wall Street with Lawrence Summers, Andrew Ross Sorkin of The New York Times Charles Gasparino of CNBC, Josh Rosner of Graham Fisher & Co. and Nouriel Roubini. Lehman Brothers, the fourth-largest US investmen...
Amazon
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Questions and Answers About Lehman Bankruptcy | View All | Ask a Question
View All Lehman Bankruptcy Questions (76) | Ask a QuestionWas there inconsistency in deciding too saving AIG but not Lehman? (1 Answer)Lehman was technically not regulated and AIG was because it was regulated as an insurance company...there were many inconsistencies that will be debated for many years...also, AIG was placed into ... read moreDid Goldman Sachs sale $700 million of Lehman stock? (1 Answer)Goldman Sachs Group Inc executives sold almost $700 million worth of stock since the collapse of rival Lehman Brothers last year, the Financial Times said on Monday. read moreWhat is a prearranged bankruptcy? (1 Answer)From a Tri-City Herald article on Charter: In a prearranged bankruptcy, a company enters into reorganization with a plan to emerge that has the approval of major stakeholders. read more
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