Bankruptcy of Lehman Brothers
Financial collapse and Chapter 11 bankruptcy filing of American investment bank Lehman Brothers Holdings Inc. and related entities during subprime mortgage crisis and great recession.
The bankruptcy of Lehman Brothers, also known as the Crash of '08 and the Lehman Shock on September 15, 2008, was the climax of the subprime mortgage crisis. After the financial services firm was notified of a pending credit downgrade due to its heavy position in subprime mortgages, the Federal Reserve summoned several banks to negotiate financing for its reorganization. These discussions failed, ... Wikipedia