The Year Since Lehman: Times of Crisis

A bull styrofoam figure is pictured in front of the DAX board at the Frankfurt stock exchange September 16, 2008.   REUTERS/Alex Grimm

The year everything changed 10:18am BST

On September 15, 2008, Lehman Brothers became the largest bankruptcy in U.S. history, its collapse paralysing the global financial system. Governments pumped in cash, but the crisis deepened and broadened, crippling industries and crushing hopes with a force not seen since the Great Depression. We chart 365 days of upheaval to see how lives have changed.  Full Coverage 

A general view of the Lehman Brothers building near Times Square in New York, September 14, 2008. REUTERS/Chip East
A way out of abyss

On five floors of New York's Time-Life building, some 600 financial professionals are still employed in the arduous task of unwinding Lehman Brothers.  Full Article 

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Analysts caught out

All of Wall Street's bank analysts were caught out by Lehman's collapse - and few have redeemed themselves since.  Full Article 

 
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Depression averted

The global economy is emerging from the depths of recession with the help of massive government intervention.  Full Article 

U.S. Federal Reserve Board Chairman Ben Bernanke holds a copy of President Barack Obama's regulatory reform plans as he waits for Obama's remarks in the East Room of the White House in Washington June 17, 2009. REUTERS/Kevin Lamarque
Reform may fail

The collapse of Lehman Brothers has spurred calls for root-and-branch review of risk in the financial sector.  Full Article 

 

EXCLUSIVE

Former Lehman Chief Executive Richard Fuld testifies at a hearing held by the House Committee on Oversight and Government Reform on Capitol Hill in Washington in this October 6, 2008 file photo. REUTERS/Kevin Lamarque/Files
"I've been dumped on"

An unrepentant Richard Fuld is bracing for the anniversary of Lehman's failure. In an interview at the former CEO's remote Idaho home, he tells Reuters: "You don't have a gun, that's good."  Full Article 

 
A man gestures whilst speaking on a mobile telephone at Barclays Bank in the financial district of Canary Wharf in London January 19, 2009. REUTERS/Kevin Coombs
To the victors, the spoils

For Barclays and Nomura, the collapse of Lehman Brothers was the opportunity of a lifetime - a chance to grab a seat at banking's top table.  Full Article 

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A worker carries a box out of the U.S. investment bank Lehman Brothers offices in the Canary Wharf district of London September 15, 2008. The ruptured U.S. financial system faces an unprecedented shake-up with Lehman Brothers filing for bankruptcy, Bank of America buying Merrill Lynch and the Federal Reserve saying for the first time it will accept stocks in exchange for cash loans. REUTERS/Andrew Winning
Has the crisis hit you?

The demise of Lehman spread hardship into the four corners of the globe. Share your credit crunch story here.  Blog