It was 15 years ago on September 15, 2008 that one of the most devastating moments in stock market history unfolded. Financial services company Lehman Brothers filed for bankruptcy, setting into motion a tumble in markets that would extend well into a new recession. With over $639 billion in assets and $619 billion in debt, Lehman Brothers went down as the biggest bankruptcy filing ever recorded in America owing to several factors, among which the company’s extensive subprime mortgage assets and declining mortgage values had the greatest impact. As sentiments continued to set the tone during market trading on that day, the S&P500 dropped to a 3 year low, while the Dow Jones Industrial Average need 500 points lower to close its session. 15 years later and, had questioned what would’ve come of these mishaps, ETFs tracking both the S&P500 and Dow still emerged triumphant with returns of around 395 and 345 percent respectively for its investors. Some standout traits of the Lehman Brothers crisis remain mostly from serving as an analogous awakening of the crypto industry’s trust crisis</b adds contextual history events – and yet other remain for the lessons it still bestows. As America remembers its tragedy the affair continues to fade further in us all.
