Fall of Lehman Brothers
Fall of Lehman Brothers Lehman Brothers Holdings Inc. submitted a bankruptcy petition to the United States Bankruptcy Court on September 15, 2008, at 1:45 a.m. The bankruptcy proceeding was the biggest in American history. The bankruptcy of the 164-year-old company, the fourth-largest U.S. investment bank, sparked a worldwide financial crisis. Lehman’s high-leverage business strategy necessitated …