The immediate aftermath of the Lehman Brothers bankruptcy will be a massive and manic flight to liquidity and withdrawal of funds and credit from banks, S&L's, insurance companies and brokerages, leading to more failures.
Nothing can stop it at this point.
The stunning magnitude of debt owed by Lehman Brothers - $613 billion -- comes to light because of their public bankruptcy filing. No wonder that Barclays, has, over the decades, experienced a dizzying array of mergers and acquisitions
– including historical linkages to VISA (known earlier as the BankAmericard).
Today, the Bank of America is the third largest commercial bank in the United
States.', Bank of America and other potential buyers took a few sniffs at Lehman's books and walked away.
The Lehman Brothers bankruptcy is the largest in the history of the world.
