One year on: the fall of Lehman Brothers
All week long we are reviewing the year that was: the year that marked the beginning of the financial meltdown and the recession that we continue to live through. Today we are focusing on the $600 billion collapse of Lehman Brothers ? the largest bankruptcy filing in U.S. history. It’s a moment that many believe sent the global economy into crisis. To get a sense of the forces leading up to that day we speak with a Lehman Brothers’ insider, former vice president of distressed debt and convertible securities at Lehman Brothers, Lawrence McDonald. He’s the author of the new book, A Colossal Failure of Common Sense: The Inside Story of the Collapse of Lehman Brothers.
We also talk to our contributor Louise Story, finance reporter for the New York Times, about the collapse of Lehmann and the ensuing global financial crisis. Louise also tells us about the new spate of corporate mergers that could indicate the nation’s economy is making the slow turn towards recovery.
The story you just read is available for free because thousands of listeners and readers like you generously support our nonprofit newsroom. Every day, reporters and producers at The World are hard at work bringing you human-centered news from across the globe. But we can’t do it without you: We need your support to ensure we can continue this work for another year.
Make a gift today, and you’ll get us one step closer to our goal of raising $25,000 by June 14. We need your help now more than ever!