Lehman Brothers Files for Bankruptcy

Lehman Brothers, the nation’s fourth-largest investment bank, has shown the full affects of the crumbling US mortgage market and filed for bankruptcy on Monday following their failure to find a buyer for the investment firm.

Lehman Brothers reported a nearly $4 billion loss last quarter, leaving the investment bank in deep water searching for a bailout.

Employees of Lehman Brothers were seen carrying out their belongings in cardboard boxes Monday morning as police cordoned off the bank’s headquarters in New York.

Lehman Brothers had reported a loss of $6.6 billion for the year following the collapse of the sub-prime mortgages market that has devastated many of Wall Street’s most established investment firms.

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