It happened over a weekend in September 2008 and while it most certainly did not come out of the blue, the collapse of one of the biggest investment banks in the world was still shocking.
Up until then, you would have struggled to find many market participants who thought such an outcome was possible. One of the most important and most storied investment banks, founded in 1847, was defaulting on its obligations and collapsing into the hands of the administrators. Lehman Brothers was bankrupt. That was when everything changed. Investors, commentators, observers and policy makers were all forced to face a new reality - previously held assumptions were no longer sacrosanct. REIT exposure at 'Lehman levels' as global sentiment surges in August The news sent financial ma...
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