2008: Bankruptcy of the Lehman Brothers

2008: Bankruptcy of the Lehman Brothers
Photo Credit To Wikipedia Commons

Story Highlights

  • Historical event:
  • 15 September 2008
  • The state refused to save their bank from bankruptcy using taxpayers' money.

The largest bankruptcy in the U.S. history took place on this day in 2008.

This day marked the bankruptcy of the fourth-largest U.S. investment bank. The Lehman Brothers, the immigrants from Bavaria, founded the company in 1850.

Their bank became one of the largest banks in the United States, but the state refused to save it from bankruptcy using taxpayers’ money.

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