Search results
Results from the WOW.Com Content Network
Lehman Brothers Inc. (/ ˈ l iː m ən / LEE-mən) was an American global financial services firm founded in 1850. [2] Before filing for bankruptcy in 2008, Lehman was the fourth-largest investment bank in the United States (behind Goldman Sachs, Morgan Stanley, and Merrill Lynch), with about 25,000 employees worldwide.
Lehman quickly became a force in the subprime market. By 2003 Lehman made $18.2 billion in loans and ranked third in lending. By 2004, this number topped $40 billion. By 2006, Aurora and BNC were lending almost $50 billion per month. [2]:129. Lehman had morphed into a real estate hedge fund disguised as an investment bank.
The Herbert H. Lehman Center for American History at Columbia University, with pictures of Lehman. Lehman Special Correspondence Files Website at Columbia University Libraries. Lehman's opening speech at the 1939 World's Fair in New York City, on The History Channel 's Speech Archive
A Colossal Failure of Common Sense: The Inside Story of the Collapse of Lehman Brothers is a 2009 non-fiction book written by Lawrence G. McDonald and Patrick Robinson which chronicles the events surrounding the bankruptcy of Lehman Brothers in the context of the financial crisis of 2007–2010 and the subprime mortgage crisis.
Shearson Lehman Hutton was the result of the combination of several Wall Street firms over a 25-year period beginning in the early 1960s that included Lehman Brothers, Kuhn Loeb, E.F. Hutton, Hayden Stone & Co., Shearson, Hammill & Co., Loeb, Rhoades & Co., Hornblower & Company, and Cogan, Berlind, Weill & Levitt, which ultimately came together under the ownership of American Express.
Richard Severin Fuld Jr. (born April 26, 1946) is an American banker best known as the final chairman and chief executive officer of investment bank Lehman Brothers.Fuld held this position from April 1, 1994 after the firm's spinoff from American Express until September 15, 2008. [4]
September 14: Merrill Lynch is sold to Bank of America amidst fears of a liquidity crisis [214] and Lehman Brothers collapses after bids to purchase the company by Bank of America and Barclays fail. [215] September 15: Lehman Brothers files for Chapter 11 bankruptcy protection, holding $613 billion in assets. It remains the largest bankruptcy ...
Robert Owen Lehman, Sr. (September 29, 1891 – August 9, 1969) was an American banker, longtime head of the Lehman Brothers investment bank, and a racehorse owner, art collector, and philanthropist. Life and career