What is the largest corporate bankruptcy filing in U.S. history?

The largest bankruptcy in U.S. history occurred on September 15, 2008, when Lehman Brothers Holdings Inc. filed for Chapter 11 protection with more than $639 billion in assets before the filing. Lehman Brothers collapsed in 2008 as a consequence of the financial crisis facing the country, and because of its own negligence and malfeasance. Lehman Brothers was constantly using some accounting tricks in order to cover the instability of its financial situation.

Lehman's bankruptcy filing is thought to have played a major role in the global financial crisis that followed. Nomura Holdings acquired the Lehman Brothers' franchise in the Asia-Pacific region, including Japan, Hong Kong and Australia, as well as Lehman Brothers' investment banking and equities businesses in Europe and the Middle East.

More Info: en.wikipedia.org

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12 Comments

Phil Kennelty

jonbroberts, The banks granting loans to uncreditworthy borrowers was caused by their greed, not because they were forbidden to downgrade the value of property because of the racial make-up of the neighborhood. Unless you believe in white-superiority, of course.

Corey Taylor

Whereas the men behind the subprime mortgage crisis(i.e. Bernie Madoff) had the largest MORAL BANKRUPTCY in U.S. History!

vonlora

always thought it was enron, but they were not an option

Bob Gorby

Nopers! ‘Tain’t happened yet, though it Will in My lifetime: it’s … (a funeral knell please, no drum roll) … that Great (read: Poopy 💩) Ponzi scheme in the Sky ( With Lucy Van Pelt): Social [In-]Security! 😖

Marian Spitzig

Caused devastation.

Bill Coe

Perhaps you should add, "Up to 2016, what is the...?" Because 2017 is coming and if it isn't going to usher in Armageddon, it will at least result in huge economic and social change. US is going to see some Yuuuge changes. And I just hope it doesn't lead to global collapse.

James Poli

FTW..

Carmine-James Pitaniello

And whoever thought that thieves didn't wear white shirts and ties?

Fred Zeb Fudpucker

William Laughlin Said with tongue in cheek.

William Laughlin

Fred Zeb Fudpucker It was no trick. Their filing for bankruptcy was almost twice the size of the second largest bankruptcy filing. Number 2, Washington Mutual had assets worth almost $328 billion before filing for bankruptcy in 2008, as a result of mortgage crisis and recession, which caused the company’s stock to drop and led to a withdrawal of billions in deposits.