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Financial crisis of 2007–2008

Lehman Brothers went bankrupt after the Federal Reserve declined to guarantee its loans

Monday Sep 15, 2008
U.S.

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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