Lehman Brothers

Lehman Brothers was a major American investment bank founded in 1850, known for its role in global finance, including investment banking, trading, and asset management. It played a significant part in the housing market bubble leading up to the 2008 financial crisis, heavily investing in mortgage-backed securities. When these investments collapsed, Lehman Brothers filed for bankruptcy on September 15, 2008, marking the largest bankruptcy in U.S. history. This event triggered widespread panic in financial markets, highlighting the interconnectedness of the global economy and contributing significantly to the financial crisis and subsequent recession.