"Once in a century event" as Lehman closes its door for good
Bankruptcies of this size are just not supposed to happen. At 5.30am London time this Monday, Lehman Brothers — one of the remaining investment banking giants of Wall Street — announced it was filing for Chapter 11 bankruptcy.
Alan Greenspan, former chairman of the US Federal Reserve, described the credit crisis that had prompted Lehmans collapse as "a once in a century event".
It was the biggest collapse in the history of international banking, and with Lehmans liabilities standing at $613bn on Sunday night, it was also
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