🠈  Lehman Brothers  🠊

Lehman Brothers

Lehman Brothers was a New York based financial firm that failed during the financial crisis due to its extensive investments in subprime mortgages.

The company started as a dry goods store in Alabama that moved into commodities because it accepted payment in cotton. The Lehman family had exited the firm by the 1970s and the bank transitioned through a number of mergers. It became a prime subprime lender during the housing bubble in the 1990s. The Feds decided to let the firm collapse.

Corporate History

I drew the outline for this section from Wikipedia. I will insert additional transactions that list Lehman as the principal catalyst or owner of the transaction.

The hedges Lehman had taken against its subprime loans failed and the company collapsed.

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  1. Wikipedia - Lehman Brothers (Drawn 11/14/2019)

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