The failure of the Lehman Brothers was largely due to their inefficiency of operations and the target market that they were catering to as a result of market saturation. The company as a result had piles of increasing debt that it was unable to furnish and repay resulting in the company losing out on revenues.
The Lehman Brothers company dealt with multiple other banks like American Express, as well as other prominent banks like Lloyd, CITI and its subsidiaries that included Neuberger Berman Incorporates, Aurora Loan Services, Lehman Brothers Bank, the Crossroads Group and FSB all of which suffered severely due to the failure of the Lehman Brothers. This large scale bankruptcy and failure of operation form the group led to a global market failure for the financial sector which marked the aggravation of the imminent global recession, and rise in unemployment levels due to large job cuts.
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