What Is (Or Was) Lehman Bros.

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Issue:

Business

 

Written by:

Christina W

 

Date added:

May 15, 2014

 

Level:

University

 

Grade:

A

 

No of pages / words:

7 / 1697

 

Was viewed:

1121 times

 

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Essay content:

In 1850 they set up the merchant bank in New York after having made money in railway bonds. So what went wrong? Lehman Bros, which till June 2008 had not reported a quarterly loss even once, had earlier survived many an economic crises, like railroad bankruptcies of the 1800s, the Great Depression in the 1930s, and the collapse of Long-Term Capital Management in the 1990s...
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Thus the collapse of the giant investment bank came as a major shock for the entire world markets that plunged after Lehman filed a Chapter 11 petition with US Bankruptcy Court in Manhattan. The $613 billion (some estimates put the size at $639 billion) bankruptcy thus throws up the question: why did the Wall Street giant go bust? Here's why...
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