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Lehman files for bankruptcy
(Agencies)
Updated: 2008-09-16 09:36
 
People look out of the window at the Lehman Brothers Holdings Inc building in New York September 15, 2008. Lehman Brothers Holdings Inc filed for bankruptcy after trying to finance too many risky assets with too little capital, becoming the largest and highest-profile casualty of the global credit crisis. Based on assets, Lehman far surpassed WorldCom as the largest US bankruptcy ever. Lehman had assets of $639 billion at the end of May, while WorldCom had $107 billion when it filed for bankruptcy protection in 2002. [Agencies]