The Lehman Brothers’ are filing for bankruptcy!
The Lehman Brothers, according to their website, have been serving the financial needs of corporations, governments, and municipalities for 150 years.
Henry Lehman came from Germany and opened a small shop in Montgomery, Alabama in 1844.
In 1850, his brothers Emanuel and Mayer joined him and named the business Lehman Brothers.
In 1858, the Lehman Brothers opened an office in New York which was the commodity-trading center of the country.
150 years later, the Lehman Brothers are filing Chapter 11 bankruptcy.
If it can happen to the Lehman Brothers after 150 years in business, it can happen to anyone.