Collapse of Lehman Brothers – 6th Anniversary

September 15 2008 was one of the most extraordinary days in global financial history.A simmering credit crisis exploded into a full-blown apocalypse in the global financial sector when Lehman Brothers filed for bankruptcy.  

With assets of $639bn and a further $613bn of debts, it was the biggest corporate bankruptcy in the US. The collapse of Lehman had immediate repercussions, frightening financial markets around the world, but with hindsight its demise has come to embody the failure of investment banks to adequately assess risk and invest accordingly.

Market Performance (from the close before Lehman BK) – Silver +71%, Gold +61%, S&P +58% ( For S&P the dividend are not accounted for. Including dividend it will be close to 88%)

Here is a must watch documentary of 60 min : “The West is done, it’s over! We screwed it all up. Do you want your great-grandchildren speaking Chinese 🙂

One thought on “Collapse of Lehman Brothers – 6th Anniversary

  1. Yes, I remember those days. I was in Citigroup Australia. In fact the trouble had already started on Friday 12th Sep itself. All the outstanding contracts of Lehman were being foreclosed and there were too many transactions, and it exceeded the maximum limit my application system could take and the application software which I was supporting crashed!! That was the end of my nice weekend. I had to come to office on Sat and Sun and make the software run properly for Monday morning!! Nightmarish days!!!

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