Event

Bankruptcy of Lehman Brothers

Lehman Brothers filed for bankruptcy early on 15 September 2008.

7 links, 7 backed by primary records

Connections 7

Lehman Brothers Primary record 1
Barclays tried to buy it; then bought its U.S. broker-dealer business Primary record 2 3
Financial Services Authority declined to approve the deal Primary record 2
Federal Reserve declined to commit public funds Primary record 4
U.S. Treasury declined to commit public funds Primary record 4
Henry Paulson Primary record 2

Timeline 1 date

Proof 4 sources

Federal Reserve's Support for Specific Institutions (Bear Stearns, Lehman, AIG), Federal Reserve History. Primary record
They were unsuccessful, and early Monday, September 15, Lehman formally filed for bankruptcy.
The Financial Crisis Inquiry Report (final report incl. dissenting statements), Financial Crisis Inquiry Commission. Primary record
At 8:00 A.M., Barclays CEO John Varley and President Robert Diamond told Paulson, Geithner, and Cox that the Financial Services Authority (FSA) had declined to approve the deal.
Lehman Brothers Holdings Inc. Chapter 11 Proceedings Examiner's Report (Anton R. Valukas), Vols 1, 3, 5, Examiner, U.S. Bankruptcy Court S.D.N.Y. (official site jenner.com/lehman returned 404 to curl; copies from Stanford mirror), 11 Mar 2010. Primary record
On September 17, Lehman and Barclays executed an Asset Purchase Agreement, which was dated as of September 16, 2008 (the “APA”).
U.S. financial markets (Chairman Bernanke, Senate Banking; same text to House Financial Services 24 Sept), Board of Governors of the Federal Reserve System, 23 Sep 2008. Primary record
In the case of Lehman Brothers, a major investment bank, the Federal Reserve and the Treasury declined to commit public funds to support the institution.

Page history 1 change