2023-09-15 20:29:58
Since the twilight of the 20th century, the house Lehman Brothers sat majestically in the heart of the financial jungle of Wall Street. The venerable banking institution, founded in 1850 by the Lehman brothers, had evolved over the decades into a powerful investment bank, a symbol of opulence and financial ingenuity, to the point of feeling invincible, “Too big to fail “. Its links throughout the world, its role in the construction of the most important companies on the planet matched only by its financial involvement and its proximity to the powerful of this world.
Yet the heady and prosperous financial scene of the early 2000s had masked the growing fissures within the Lehman empire. The insatiable quest for profits had led the bank to take excessive risks by investing heavily in high-risk mortgage loans, these “infamous” subprimes. And when the American real estate bubble burst, the colossus with feet of clay began to wobble.
From 2007 onwards, Lehman Brothers gradually fell into a relentless downward spiral. Losses pile up, assets depreciate, and investor confidence evaporates. And then September 2008 arrives, Lehman Brothers finds itself in a financial storm of unprecedented proportions. The bank’s executives are desperate for a lifeline, but in vain. No one will help them.
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