Lehman bros

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In Julyshortly after the retired Mr. It can never be deemed precedent for future cases. They've invested heavily in risk management. The spectacle continued throughout the day and into the following day.

It's hard for me to imagine a similar emergency. While other factors surely contributed to the economic turmoil that ensued, the firm's failure seemed to be the triggering element that unleashed the floodgates of widespread recession.

Lehman Brothers became a victim, in effect the only true icon to fall in a tsunami that has befallen the credit markets.

JPM in March The firm said that poor market conditions in the mortgage space "necessitated a substantial reduction in its resources and capacity in the subprime space".

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The Dow eventually closed at a new six-year low of 7, House committee Chairman Henry Waxman said the committee received thousands of pages of internal documents from Lehman and these documents portray a company in which there was "no accountability for failure". Lehman's demise also made it the largest victim of the U.

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Bankruptcy of Lehman Brothers