carson tunney--accouting 2600 case stduy.docx - Carson Tunney U0820229 Accounting 2600-002 12 July 2016 Lehman Brothers Scandal Many immigrants have

carson tunney--accouting 2600 case stduy.docx - Carson...

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Carson Tunney U0820229 Accounting 2600-002 12 July 2016 Lehman Brothers Scandal Many immigrants have come to United States of America in search of a better life and to make it big. That’s what makes the united states such a unique country, and there really are many opportunities out there to strike rich. The Lehman brothers had the same mentality as many in the past. The Lehman Brothers were German immigrants who settled in Montgomery, Alabama and originally they started up a small general store to make ends mean (Investopedia: Collapse of the Lehman Brothers). Henry Lehman who had started up the general store, only A few years later in 1850 transferred over into a different field where they became a successful bank. Since there founding in 1850 the United States has had some tragic events happen such as two world wars, rises and falls in the real estate market, great depressions, basic collapse of the railroad industry and many more (Investopedia: Collapse of the Lehman Brothers) however there company held up pretty strong throughout all the tough times. Through these ups and downs the Lehman brothers had learned many things and seen many difficult situations that affected them financially. They held strong until about 2007 when the real estate market once again began to sink, and “the stock market took its worst single day plunge that it had seen in a the last five years” (Montgomery-Death of the Lehman brothers). Before declaring bankruptcy a year later in 2008, at this point the
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Lehman Brothers were the fourth biggest U.S. Investment bank, and “[had] employed
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