Without Federal Backup, More are Likely to Follow Lehman

September 22, 2008

The case of Lehman Brothers proves that the bar for banks has just been raised. Until last week, financial institutions of such size were seen as being in the too-big-to-fail category. Lehman found itself forced into bankruptcy as Barclays and Bank of America walked away from buyout talks. The failing firm listed more than $613 billion of debt.

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