Lehman Brothers

The traditional 12th anniversary gifts are silk and linen. The modern 12th anniversary present is pearls.

Today happens to be the 12th anniversary of what is STILL the largest bankruptcy filing EVER. This is an excerpt from History.com

…Out of options, Lehman Brothers declared bankruptcy early on the morning of September 15. The firm declared $639 billion in assets and $613 billion in debts, making it the largest bankruptcy filing in U.S. history.

That day, the Dow Jones Industrial Average plunged more than 500 points, its steepest decline since reopening after the 9/11 terrorist attacks. Lehman’s collapse sent financial markets into turmoil for weeks, leading many to question the federal government’s decision to let the bank fail…

Continue reading the full post at history.com HERE. It is a fitting marker of time ahead of what may very well be another historic FOMC meeting tomorrow, September 16th, the last BEFORE November 3rd election. 

More on the outcomes and markets in near future. In the meanwhile, stay safe and in touch with your Etico advisor!

Steven J. Feiss

Steven J. Feiss

Managing Director, Fixed Income

Etico Partners, LLC

1795 Rout 9 Clifton Park, NY 12065

Office: (732) 683-9222
Mobile: (914) 450-9668

feiss@bloomberg.net
sfeiss@eticony.com

Meet the Author

Financial markets veteran with more than three decades of experience working with high profile, domestic and international asset managers and trading desks, producing customized and actionable solutions for strategic alpha generation and risk mitigation. Author of a unique daily (6x per week) cross-asset macro market commentary (the BondBeat) to inform and assist INSTITUTIONAL FIXED INCOME investors and trading desks.