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The Report of Anton R. Valukas is an examination into the demise of Lehman Brothers, a formerly dominant global financial institution, that collapsed into bankruptcy during the 2007–2008 financial crisis.
The bankruptcy of Lehman Brothers, also known as the Crash of '08 and the Lehman Shock, on September 15, 2008, was the climax of the subprime mortgage crisis. After the financial services firm was notified of a pending credit downgrade due to its heavy position in subprime mortgages, the Federal Reserve summoned several banks to negotiate ...
According to bankruptcy examiner Anton Valukas, the seeds of Lehman's Sept. 15, 2008, bankruptcy were sown in 2006, aggressively fertilized throughout 2007 and 2008's first two quarters, and ...
Lehman Brothers Inc. (/ ˈ l iː m ən / LEE-mən) was an American global financial services firm founded in 1850. [2] Before filing for bankruptcy in 2008, Lehman was the fourth-largest investment bank in the United States (behind Goldman Sachs, Morgan Stanley, and Merrill Lynch), with about 25,000 employees worldwide.
Given that Lehman's balance-sheet problems could have been solved in theory by selling assets, not just raising capital, it's interesting that Valukas doesn't report Geithner conveying that message.
At $639 billion, Lehman Brothers Holdings' bankruptcy in 2008 was the biggest in U.S. history and touched off a withering financial crisis known as the Great Recession. On Thursday, a federal ...