Financial Times FT.com

Lehman’s challenge

Published: June 12 2008 19:58 | Last updated: June 12 2008 19:58

Lehman Brothers is the latest Wall Street bank to suffer from the financial crisis. Following Bear Stearns’ collapse, the fourth-largest US investment bank on Thursday shook up its senior management in an effort to reassure investors.

It is not new for an investment bank to face a loss of confidence. Lehman itself ended up being sold to American Express in 1984 after it was weakened by an internal struggle. Many of the most famous institutions on Wall Street have either foundered or been acquired.

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