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Lehman Brothers (GREETS (Ethnics (Accounting tricks, Deceive shareholder,…
Lehman Brothers
Introduction
Started a commodities store. Operated for 158 years from 1850 to 2008 and grew to become the 4th largest investment bank in US
Sept 15, 2008 - Lehman brothers filed for bankruptcy.
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GREETS
Regulations
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Inadequate legal, accounting and government regulation and deregulation
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Environment
Excessive risk-taking, profit-driven
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Technology
Complex financial instrument, high leverage
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Globalisation
Global financial network, ripple effect and highly competitve
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Aftermath and impact
Economic
Great recession, millions of job loss globally, slow recovery until this day, economic inequality
Social
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Anger by taxpayer bailout, bankers not accountable
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