“Investment Banking R.I.P.” was one of the headlimes following the fall-out of a once $46 billion company. Lehman Brothers succumbed to huge losses made during infamous subprime crisis apparently due to “lack of control, poor management of internal risk and ultimate self-interest,” said one former Lehman’s employee to Bloomberg.
Another analyst said that it is the game that Lehman played; it was just simply underestimating the markets and concludes: “Lehman decided to play chicken with the market — and they lost.”
Details can be seen here.
Originally published on luqyantamanni.wordpress.com, September 17, 2008: view original.
