On September 15, 2008, New York City's Lehman Brothers, the world's fourth largest investment bank, filed for Chapter 11 bankruptcy protection. At their peak, Lehman Brothers' bankers regarded themselves as self-styled "masters of the universe" and among the financial world's top movers and shakers. They leveraged billions of dollars on a daily basis; their decisions set the course of the global economy.
In filing for bankruptcy, the Lehman Brothers board triggered the deepest financial crisis since the Great Depression of the 1930s. This report scrutinizes the bank, the mechanisms of the worldwide economy and their frighteningly fragile balance.
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