Publisher's Synopsis
The Riveting Tale of Lehman Brothers, Once A Titan of Wall Street Whose Dramatic Ascent and Catastrophic Collapse Played A Pivotal Role in The Global Financial Crisis.
On September 15, 2008, a significant event unfolded that had far-reaching consequences. The collapse of Lehman Brothers, a renowned investment bank, marked a significant turning point in the worldwide financial crisis. The once-respected institution lost its reputation due to questionable practices and a lack of responsibility. Their business navigated the challenges of venture capital and weathered the storm of the Great Depression.Through subsequent mergers and acquisitions, Lehman Brothers emerged as one of the leading investment banks in the country. During its downfall, Lehman Brothers emerged as the nation's fourth-largest investment bank, employing approximately 25,000 individuals across the world. However, its origins trace back to a modest dry goods store established by German immigrant Henry Lehman in 1844, situated in Montgomery, Alabama. What led to the unfortunate downfall of Lehman Brothers? Could this outcome be attributed to an unchecked drive for success, an inclination towards taking excessive risks, or merely an unavoidable outcome of a flawed financial system? In this captivating story, we explore the inner workings of Lehman Brothers and its corporate culture, delving into the intricate network of relationships and decisions that led to the downfall of this once prominent investment bank. Even now and in the future, the collapse of Lehman Brothers serves as a powerful reminder that nothing is permanent. The consequences of being too big to fail are significant and long-lasting.
