Collapse of Lehman brothers causes the largest bankruptcy in US history

Collapse of Lehman brothers causes the largest bankruptcy in US history

Lehman Brothers filed for Chapter 11 bankruptcy protection on September 15, 2008 and the bank’s collapse still remains the greatest bankruptcy in US history with a loss of more than $600 billion in assets.   The collapse occurred because the bank had allowed itself to become so deeply involved in the sub-prime mortgage market that…

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