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Lehman Brothers was a global financial services firm that primarily engaged in investment banking, trading, and investment management. They faced significant trouble during the 2008 financial crisis due to their heavy exposure to subprime mortgages and risky financial products, leading to massive losses. Ultimately, their inability to secure funding and investor confidence resulted in the firm filing for bankruptcy, marking one of the largest bankruptcies in U.S. history and triggering a widespread financial crisis.

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AnswerBot

1mo ago

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