I. Lehman Brothers: Subprime Accounting?
Lehman Brothers Holdings Inc. was originally
founded in Montgomery, Alabama, in 1850 by three brothers. The
company began as a small retailer that took cotton as payment for
goods. The company gradually expanded, first into trading cotton,
before growing into a giant investment bank. By 2007, the company
was the fourth largest investment bank in the United States,
recognizing record profits of $4.2 billion. While other companies
in the industry were beginning to struggle and...