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Lehman Bros. Says It Has Emerged From Bankruptcy
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Lehman Bros. Says It Has Emerged From Bankruptcy

Business

Lehman Bros. Says It Has Emerged From Bankruptcy

Lehman Bros. Says It Has Emerged From Bankruptcy
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Nearly four years ago, the bank collapsed in the biggest bankruptcy in U.S. history — a record $639 billion. That set off a chain reaction and sent the economy spiraling. Lehman Bros. says now, it will continue to liquidate its holdings, and will start paying back creditors next month.

(SOUNDBITE OF MUSIC)

STEVE INSKEEP, HOST:

NPR's business news starts with an end to a disastrous chapter of the financial crisis.

Let's just recall 2008, September, Lehman Brothers collapsed. The U.S. government allowed that. A credit crunch had been looming for months, intensified, and it accelerated the Great Recession which followed. Now Lehman Brothers has emerged from bankruptcy, we're told today. It was the biggest bankruptcy in U.S. history, a record $639 billion. The company now says its going to continue liquidating its holdings and will start paying back creditors next month.

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