Financial Markets: Lehman Brothers Failure
added: 2008-09-16
So what can be said about the Lehman Brothers failure and the other dramatic events of the weekend? Well, the system worked, as it was supposed to, at last. When the US Government removed itself as buyer of last resort, no one in the financial world was prepared to extend a lifeline to Lehman, so it filed for Chapter 11 bankruptcy protection overnight for the parent.
