Moving towards Meltdown

Thomas F. Huertas

Chapter 4 in Crisis: Cause, Containment and Cure, 2011, pp 66-81 from Palgrave Macmillan

Abstract: Abstract On 15 September 2008 the nature of the crisis abruptly changed. Lehman Brothers failed. It was a leading stand-alone investment bank and one of the largest participants in equity and fixed income markets around the world. It had nearly $700 billion of liabilities to firms and individuals around the world. It was counterparty to practically every major financial institution. It had hundreds of thousands of trades due to settle in the United States, United Kingdom and other markets.

Keywords: Federal Reserve; Credit Default Swap; European Economic Area; Funding Pressure; Trouble Asset Relief Program (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-32135-9_5

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DOI: 10.1057/9780230321359_5

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