On September 15, 2008, the world woke to the news that Lehman Brothers had gone bust. The investment bank, which was the sixth largest bank in the US by total assets at the end of 2007, filed for Chapter 11 bankruptcy protection.
It remains the largest bankruptcy in history. Lehman’s held more than $600bn in assets, and has come to epitomise the global financial crisis. Its failure sparked numerous regulations, many of which are still in place, as well as unconventional monetary policy in the form of quantitative easing and negative interest rates.
