Three years on from the collapse of Lehman Brothers, Laura Miller revisits the shocking events and asks if any lessons have been learned.
It has been three years since Lehman Brothers filed for bankruptcy, creating the biggest banking failure in history and sending shockwaves through global markets.
Net retail fund sales for July fell to their lowest level since October 2008 while equity funds saw net outflows for the first time in over two years.
The first of the structured products to mature which used Lehman Brothers as one of its counterparties has returned a gain.
The FTSE 100 climbed this morning and Asian and US markets rallied strongly overnight as the Federal Reserve announced it would hold interest rates at close to zero until 2013.
Man Group is to acquire the remaining exposure to the estates of bankrupt US investment giant Lehman Brothers from funds managed by its subsidiary, GLG Partners, for $355m (£220.4m) in cash.
Thursday newspaper round-up: Lehman Brothers secretly borrowed billions of dollars from the US Federal Reserve months before the investment bank filed for bankruptcy, it has emerged.
The Chancellor appears before the Treasury Select Committee (TSC) this afternoon to answer concerns about the accountability of the Bank of England
Having correctly predicted a banking crisis on the scale of Lehman Brothers, Jon Moulton's (Chairman, Better Capital Fund) foresight on the industry's long road to recovery is fully justified in being heard. This is what he said in February 2008.