Lehman Brothers accumulated a large portfolio of risky mortgage-backed securities and high levels of debt through acquisitions in the mid-2000s. By 2007, Lehman underwrote more mortgage securities than any other firm and had a leverage ratio of 31 to 1. In September 2008, Lehman declared bankruptcy after reporting large losses, wiping out over $46 billion in market value. Lehman's collapse intensified the 2008 financial crisis and contributed to a loss of nearly $10 trillion in global equity markets. The bankruptcy froze the commercial paper market, and the federal government had to implement guarantees and programs to stabilize money market funds and restart lending.

1. The Weekend That Changed Wall StreetPresented By – RohanPopliRohit SethRohitYadav Sameer Kalra

3. Fact File In 2003 and 2004 Lehman acquired five mortgage lenders, including subprime lender BNC Mortgage and Aurora Loan Services, which specialized in Alt-A loans.

4. In 2007, Lehman underwrote more mortgage-backed securities than any other firm, accumulating an $85-billion portfolio, or four times its shareholders' equity which was $ 21 billion.

5. Lehman's high degree of leverage - the ratio of total assets to shareholders equity was 31.

6. On September 10, The firm reported a loss of $3.9 billion, including a write-down of $5.6 billion, and also announced a sweeping strategic restructuring of its businesses.

7. September 15, Lehman declared bankruptcy leading more than $46 billion of its market value wiped out.

8. It had a bank debt of $613 billion, $155 billion in bond debt, and assets worth $639 billion.

9. Lehman's collapse greatly intensified the 2008 crisis and contributed to the erosion of close to $10 trillion in market capitalization from global equity markets in October 2008.The Whole CycleHouse Bubble

10. Conditions on Takeovers

11. Income Side Fall

12. Cash Flow Side Fall

13. Lehman TakeoversNorth AmericaAsia Division

14. Collapse and Commercial Paper Market

15. Lehman Brothers and Commercial Paper Market Freeze- U.S. policy makers meetReal Estate plummeting in value

16. Bailout ruled out

17. Barclays and Bank of America takeover abandon. Lehman Brothers and Commercial Paper Market Freeze-Lehman files bankruptcy . Client start to pull the money market fund.

18. Reserve Primary , holder of $785 million in Lehman commercial paper.

19. Yield rising overnight.

20. Client withdraw 60% from within a day. Lehman Brothers and Commercial Paper Market Freeze-U.S. Treasury announces a $50 billion temporary guarantee for money market funds.-Yields came down for first time .- Federal Reserve help to raise fund for satisfying withdrawal.

21. Lehman Brothers and Commercial Paper Market Freeze-House Representatives rejects the $700 billion Troubled Asser Relief Program (TARP).- Yield surge most in more than a decade.

22. Lehman Brothers and Commercial Paper Market Freeze-House Representatives approves the $700 billion Troubled Asser Relief Program (TARP).

23. Lehman Brothers and Commercial Paper Market Freeze-Companies not able to find buyer.- Federal to create special fund to invest itself.

24. Lehman Brothers and Commercial Paper Market Freeze-Buying begins directly from companies , example GE.-Market grows for the first time.

25. Lehman Brothers and Commercial Paper Market Freeze-Recession results companies in need for cash.-Market shrinks for 16th straight week.