At the root of the global financial crisis: Lehman Brothers – the genesis of the collapse

The collapse of the investment bank Lehman Brothers Holdings Inc. is a story straight from a Hitchcock movie – it started with an earthquake and then it just got only got worse. The company, with a 158-year tradition, survived the Great Depression of the 1930s, both world wars and the terrorist attacks of 11 September 2001.
11 September 2001, as a result of the crisis in the high-risk mortgage industry, was forced to file for bankruptcy on 15 September 2008. 15 September 2008 to file for bankruptcy proceedings with the possibility of restructuring, and placed itself under the supervision of the court1. At the time of filing the petition, the debts of Lehman Brothers Holdings’ debts were estimated at USD 613 billion and USD 155 billion in bonds, its assets were USD 639 billion and the application listed over 100 000 creditors.
According to Bloomberg, it was the largest ever bankruptcy in history.