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...In the global financial crisis, Lehman Brothers collapsed more than a year after the first subprime mortgage dramas....
...“I took a terrifying mortgage — terrifying — and bought this house where I played as a child.”...
...For after Lehman Brothers imploded, there was a race to tighten capital and liquidity standards. And this continues, even today....
...“Conventional wisdom would say that once someone has responsibilities such as a mortgage, partner or children, they might be less likely to take a leap of faith,” Burbidge, 52, says....
...The vast majority of this agency debt consists of discount notes issued by the Federal Home Loan Bank system, a US-government backed group of institutions that purchase mortgages issued by local banks....
...Critics rightly lambasted rating agencies for the flawed validation of mortgage-backed securities that triggered the financial crisis of 2008-9....
...Anyway, this arrangement worked for a while, then unravelled in 2008 thanks to the influx of junky mortgage-related repo collateral that was rendered nearly worthless when Lehman Brothers fell....
...It was founded in 2015 by former Lehman Brothers derivatives trader Nik Storonsky and by 2021 had a valuation of $33bn....
...Grew was quickly dispatched to Tokyo by Lehman’s top brass to help deal with the bank’s response....
...Former Lehman Brothers banker David Kim is retiring as chief operating officer of PAG’s private equity business after 13 years at the firm, per Bloomberg....
...The next attempt was led by Bob Diamond, a brash American trader whose big break was buying the US assets of Lehman Brothers out of bankruptcy in the financial crisis, leading to his appointment as group...
...And few observers would have predicted the nightmarish crisis that was to strike within the year, felling behemoths from Wall Street’s venerable Lehman Brothers to Royal Bank of Scotland, then the biggest...
...ING started selling Swiss-franc mortgages in March 2008, only months before the bankruptcy of Lehman Brothers started a financial crisis that also ended Tusk’s euro ambitions....
...They could allow companies to in effect mortgage their assets when power prices soar, given they should be worth more. They could then repay borrowings as customer cash flow comes through....
...One European bank chief executive said investors had failed to appreciate how much the sector had changed since Lehman Brothers’ collapse in 2008....
...The pay-off when Lehman imploded was enough to buy a condo in New York, with no mortgage. Here was Japan 2.0, surely. I would at last be proved right. But you know what?...
...Meanwhile, the collapse of Lehman Brothers and Bear Stearns led to tens of thousands of bankers out of work. In total, more than 150,000 bankers lost their jobs during the financial crisis....
...Lehman Brothers-branded baseball caps fetch hundreds of dollars on eBay, after all....
...Similarly, the collapse of Lehman Brothers inflicted destabilising losses on money market funds that held its debt....
..., he saved the giant mortgage lender from nationalisation....
...One big difference: we’ve learned from multiple news outlets that this is not just the new Lehman Brothers, with Alameda acting as the SIV to FTX’s bank....
...Ordinary people who pay mortgages could see that the rates on those mortgages were shooting through the roof. Mortgage lenders were pulling out of the market....
...caused the crises,” she joked during a recent discussion with students of the elite École Polytechnique in Paris, remembering how rivals stopped calling for her to quit as French finance minister once Lehman...
...Then the failure of Lehman Brothers drove the industry off a cliff, forcing European and US governments to fund taxpayer rescues....
...As the collapse of Lehman Brothers sent shockwaves through global finance and the UK nationalised several banks, Osborne devised a plan to dismantle the regulatory structure created by the ruling Labour...
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