Lehman Brothers

Lehman Brothers was an American financial-services firm founded in 1850 that grew into a major investment bank. Its bankruptcy in 2008 became the largest in U.S. history and intensified the global financial crisis.

Henry Lehman: Henry Lehman was a German-American businessman who founded the firm that became Lehman Brothers in 1850. He began the family enterprise as a dry-goods store in Montgomery, Alabama.
Repo 105: Repo 105 was Lehman's accounting treatment for short-term repurchase agreements, used to temporarily reduce reported balance-sheet liabilities. The transactions made quarter-end leverage figures appear lower than they otherwise would.
Richard Fuld: Richard Fuld was Lehman Brothers' chief executive from 1994 until its 2008 bankruptcy. He led the firm through its rapid growth and the final crisis negotiations.
Global financial crisis: The global financial crisis was an international financial downturn that began in 2007 and peaked in 2008–2009. Lehman's failure intensified the crisis and disrupted funding markets worldwide.
Bank of America: Bank of America is a U.S. multinational bank headquartered in Charlotte, North Carolina. It bought Merrill Lynch in 2008, another investment bank seeking a crisis-era sale.
Emanuel Lehman: Emanuel Lehman was a German-American businessman who helped lead the firm founded by his brother Henry. His leadership helped shift the family business toward commodities and finance.
Leverage (finance): Financial leverage is the use of borrowed funds to increase exposure to assets or investments. Heavy borrowing magnified losses when Lehman's assets fell in value.
Dick Parsons: Dick Parsons is an American business executive who served as chairman of Citigroup and several other corporations. He participated in discussions about a possible rescue of Lehman in September 2008.
AIG bailout: The AIG bailout was the U.S. government's 2008 rescue of American International Group with emergency loans and other support. AIG's rescue the day after Lehman's bankruptcy highlighted the consequences of letting a major financial firm fail.
Barclays: Barclays is a British multinational bank headquartered in London. It acquired Lehman's North American investment banking operations after the bankruptcy.

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