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It was baptism by fire: Subbarao on early day as RBI governor

It was baptism by fire: Subbarao on early day as RBI governor

"It was baptism by fire," Duvvuri Subbarao said as he recounted his early months as governor of the Reserve Bank of India in 2008, a time when Lehman Brothers collapsed and pushed the global financial sector into a "near death" experience.


JPMorgan Chase pays $1.42 bn to settle most of Lehman Bros suit

JPMorgan Chase has agreed to pay USD 1.42 billion to settle most of the litigation relating to the bankruptcy of Lehman Brothers, according to court documents.

Market calm on Grexit an eerie recall of pre-Lehman bets

Relative calm on global markets during the latest Greek debt standoff more closely reflects the low probability assigned to a euro exit than how contained such a shock could be.

Lehman's London staff win $300 million pensions fight

More than 2,400 former Lehman Brothers bankers based in Britain will have their pensions paid in full after winning a six-year battle.

Records show Fed on edge during darkest days of 2008 crisis

Federal Reserve policymakers, in a tense meeting on one of the darkest days of the 2008 financial crisis, were worried the failure of Lehman Brothers a day earlier would wreak havoc on a teetering financial system but feared cutting already low interest rates might prove an over-reaction.

5 years post-Lehman, top banks till face trust deficit: Survey

At -1.6 percent, the institutions in North America were flat for the quarter, but had the lowest levels of confidence overall.

Hedge funds reap rewards from bet on Lehman Europe carcass

Hedge funds which gambled on how much money would be recovered from the bankrupt carcass of Lehman Brothers are set to make hundreds of millions of pounds from a full payout to creditors of the European arm.

Five years after Lehman, risk moves into the shadows

Just days after UBS AG said that it would gut its fixed-income trading business last October, three of the Swiss bank's senior executives left to launch a firm to go where big banks won't anymore.

Lehman Brothers offers to surrender trading membership of NSE

Once an iconic financial services major, Lehman went bust in September 2008 and became synonymous with one of the worst financial crisis to ever hit the US and global markets.

'Present global crisis is comparable to Lehman shock of 2008'

The present financial crisis in Europe and other countries is affecting Asian economies not just through trade or slower Asian exports, but through financial channels and can be compared to the Lehman shock of 2008, a senior ADB economist said here Tuesday.

Lehman exits bankruptcy to repay debt and vanish

The debtors of Lehman Brothers, whose stunning collapse in 2008 sparked global financial panic, emerged from a record bankruptcy today in a step toward the final chapter for the once-powerful Wall Street investment bank.