Lehman has finally emerged from its bankruptcy declared 9/15/08. The possibility of Bear Stearns going under was the early warning sign of the financial crisis, but it was the Lehman bankruptcy that sent the global financial system into free fall. From the linked Reuters article:
Reuters) – Lehman Brothers Holdings Inc emerged from its record $639 billion
bankruptcy on Tuesday and said it will start paying back creditors on April
17.
The move puts an end to the bankruptcy proceeding that began on September 15,
2008, when Lehman collapsed and rocked the foundations of the global financial
markets, catalyzing the Great Recession.
Here is a post from 9/15/09 where I discussed the ongoing problem with “too big to fail”.
