Investments glossary

Lehman Brothers

Lehman Brothers was a global financial services firm whose bankruptcy in 2008 was largely caused by — and accelerated — the subprime mortgage crisis. The firm was at the time the fourth-largest investment bank in the United States; its bankruptcy remains the largest ever. At the time of its Sept. 15, 2008 Chapter 11 bankruptcy filing, Lehman Brothers had been in operation for 158 years. It provided investment banking, trading, investment management, private banking, research, brokerage, private equity, and associated services. Lehman Brothers’ failure placed the subprime mortgage crisis of 2007-2009 prominently into the public eye and presaged the deepening of the Great Recession.

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