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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
Nonfiction
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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