Who Knew?

It’s been a year since Lehman Brothers, that age-old, proud Wall Street institution was destroyed.  Hmm.  Well not quite.  The Lehman Brothers that went under was created in 1994, making it a venerable 15-year old institution.  The original Lehman was acquired by American Express’s Shearson unit in 1984.  Shearson Lehman (Hutton) was a far cry from the powerful institution Lehman had once been.  Amex and Shearson ran the show.  Shearson later bought what was left of EF Hutton after it collapsed in the wake of the 1987 crash, making it an amalgam of several prior firms owned by a large diversified corporation.  It’s a testament to the new Lehman, however, that it was able to become such a significant player over that 15-year period.  Well, 15-minus-one year period.  It’s an interesting history.  Who knew things would get so bad…

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Published in: on September 16, 2009 at 19:33  Leave a Comment  
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