Financial crisis of 2007–2008 - Lehman Brothers went bankrupt after the Federal Reserve declined to guarantee its loans
Time: Monday Sep 15, 2008
Place: U.S.
Details: September 15, 2008: Lehman Brothers went bankrupt after the Federal Reserve declined to guarantee its loans, causing the Dow Jones to drop 504 points, its worst decline in seven years. The same day, Bank of America purchased Merrill Lynch.
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