Which company filed for bankruptcy at the center of the 2008 global financial crisis?

Lehman Brothers filed for bankruptcy at the center of the 2008 global financial crisis.

The investment bank submitted its Chapter 11 petition on September 15, 2008, after efforts to find a buyer failed. It was the largest bankruptcy filing in U.S. history at that time, with more than $600 billion in assets listed in the case.

Lehman had built substantial exposure to the U.S. housing and mortgage markets. As housing prices fell and mortgage-related securities lost value, confidence in the firm's balance sheet deteriorated. Its failure intensified fear about interconnected banks and financial institutions around the world.

The collapse was not the only cause of the crisis. The broader episode also involved risky mortgage lending, securitization, excessive leverage, and weaknesses in financial regulation. Bear Stearns had already required rescue-related action in March 2008.