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Today in History: Lehman Brothers files largest US bankruptcy

By Drooid · Sep 15, 2026, 10:34 AM UTC · How we work

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Summary

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On September 15 2008, Lehman Brothers filed Chapter 11 bankruptcy, the largest U.S. filing ever, with more than $600 billion in assets. The move followed a pending credit downgrade tied to its massive subprime-mortgage exposure and failed Federal Reserve rescue talks, igniting the 2008 financial crisis and global market panic.

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Story summary

On September 15 2008, Lehman Brothers filed Chapter 11 bankruptcy, the largest U.S. filing ever, with more than $600 billion in assets. The move followed a pending credit downgrade tied to its massive subprime-mortgage exposure and failed Federal Reserve rescue talks, igniting the 2008 financial crisis and global market panic.