Which company’s bankruptcy in September 2008 became a symbol of the Global Financial Crisis?

Lehman Brothers’ bankruptcy in September 2008 became a symbol of the Global Financial Crisis.

The investment bank filed for bankruptcy protection on September 15, 2008, in the largest such filing in U.S. history at the time. Lehman had accumulated major exposures to the U.S. housing market, including mortgage-related securities. As house prices fell and subprime defaults rose, the value of those assets became increasingly uncertain.

The collapse intensified fear throughout global financial markets. Banks became less willing to lend to one another, credit tightened, and stock markets fell sharply. Governments and central banks responded with emergency lending, guarantees, rescues, and stimulus measures.

Lehman’s failure is often treated as the crisis’s decisive turning point, but it was one part of a wider chain of events. Bear Stearns had already been rescued in March 2008, while other institutions later received support or were acquired.