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THURSDAY, NOVEMBER 26, 2009
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Lehman Goes Bust

Started by K Schwartz; Last updated by K Schwartz

Lehman Goes Bust

"Lehman decided to play chicken with the market and they lost" -- James Ellman, portfolio manager at hedge fund Seacliff Capital

Lehman Brothers gasped its last breath on Sept. 15, 2008, filing for Chapter 11 protection in Manhattan under a crushing $613 billion in debt—the largest bankruptcy in US history

Stories

Stories 81 - 82 of 82

  • March 2008
    • Lehman Bros. Q1 Profits Plunge 57%

      Lehman Bros. Q1 Profits Plunge 57%

      (Newser) - Lehman Brothers, which yesterday lost 19% of its market value, today reported a 57% drop in net income for the first quarter and a 31% drop in net revenue. But those dire figures still beat analyst forecasts, sending the stock up 12% in premarket trading, the Wall Street Journal reports. The earnings were brought low by a $1.8 billion mortgage writedown. More »

    • Will Lehman Be the Crunch's Next Victim?

      Will Lehman Be the Crunch's Next Victim?

      (Newser) - After a collapse of confidence sank Bear Stearns last week, some traders are betting that Lehman Brothers will be the next victim of the credit crunch. Its stock went on a rollercoaster ride yesterday—plunging 40% at one point and closing down 19%, the biggest fall since the firm went public. But analysts, wary of giving vultures more reasons to circle, are watching what they say about the brokerage firm, Marketwatch reports. More »

Stories 81 - 82 of 82

Pedestrians walk pass Lehman Brothers headquarters on Wednesday, Sept. 10, 2008, in New York.
Pedestrians walk pass Lehman Brothers headquarters on Wednesday, Sept. 10, 2008, in New York.   (AP Photo/Jin Lee)
Lehman Brothers headquarters is seen on Wednesday, Sept. 10, 2008 in New York.
Lehman Brothers headquarters is seen on Wednesday, Sept. 10, 2008 in New York.   (AP Photo/Jin Lee)
This Jan. 22, 2007 picture shows Lehman Brothers Holdings Inc. Chairman and Chief Executive Officer Richard Fuld, Jr.
This Jan. 22, 2007 picture shows Lehman Brothers Holdings Inc. Chairman and Chief Executive Officer Richard Fuld, Jr.   (AP Photo/Kevin Wolf)
Lehman Brothers world headquarters is shown Monday, Sept. 15, 2008 in New York. Lehman filed a Chapter 11 bankruptcy petition after attempts to rescue the 158-year-old firm failed.
Lehman Brothers world headquarters is shown Monday, Sept. 15, 2008 in New York. Lehman filed a Chapter 11 bankruptcy petition after attempts to rescue the 158-year-old firm failed.   (AP Photo/Mark Lennihan)
Women carrying boxes leave the Lehman Brothers headquarters today in New York.
Women carrying boxes leave the Lehman Brothers headquarters today in New York.   (AP Photo)
Steve Goldstein, a former employee of Lehman Brothers, signs art work with the likeness of the firm's CEO Richard Fuld Jr. at the Lehman Brothers headquarters today in New York.
Steve Goldstein, a former employee of Lehman Brothers, signs art work with the likeness of the firm's CEO Richard Fuld Jr. at the Lehman Brothers headquarters today in New York.   (AP Photo)
Office workers chat behind the stone marker of Lehman Brothers in Tokyo today.
Office workers chat behind the stone marker of Lehman Brothers in Tokyo today.   (AP Photo/Katsumi Kasahara)
People work inside the Lehman Brothers headquarters in New York, Tuesday, Sept. 16, 2008.
People work inside the Lehman Brothers headquarters in New York, Tuesday, Sept. 16, 2008.   (AP Photo/Mary Altaffer)
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