On September 15, 2008, the fourth largest investment bank in the United States - “Lehman Brothers“ filed for bankruptcy.
This came after the financial institution announced losses of over 60 billion dollars invested in risky real estate.
Thus, the bank with a 158-year history ceased its operations and marked the largest bank failure in the United States. Its debts amounted to 613 billion dollars.
Its bankruptcy led to large-scale sales in all leading markets in the world and marked the beginning of the largest global financial crisis since the 1930s.
“Lehman Brothers“ was founded in 1850 by three German immigrants of Jewish origin. Over time, it established itself as one of the most stable financial banks in the United States, withstanding the biggest crises associated with the Great Depression of 1929, the two world wars, the great stock market crash of 1987, etc.