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Publisher Description

Introduction On September 15, 2008, the 150-year-old global financial services firm, Lehman Brothers Holdings, Inc., declared bankruptcy after the Federal Reserve and Treasury Department denied its pleas for a federal bailout. The firm, which had generated more than $3.1 billion in profits during the previous year, saw its stock price drop ninety percent in a single day. Dragged down by Lehman Brothers, the Dow Jones Industrial Average fell over 500 points, its largest single-day loss since the immediate wake of 9/11. The Wall Street Journal declared: "Crisis on Wall Street as Lehman Totters"; (1) the Times of London reported: "Lehman Brothers Collapse Sends Shockwave Round World"; (2) and the Washington Post read: "Stocks Plunge as Crisis Intensifies." (3) Over the course of the day, the dominant media narrative that emerged was characterized by crisis, complexity, uncertainty, and panic.

GENRE
Non-Fiction
RELEASED
2011
September 22
LANGUAGE
EN
English
LENGTH
39
Pages
PUBLISHER
Pi Gamma Mu
SELLER
The Gale Group, Inc., a Delaware corporation and an affiliate of Cengage Learning, Inc.
SIZE
251.5
KB

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