The 12 Most Spectacular Financial Services Failures of All Time
As a result of its spectacular tech fail on Aug. 1, Knight Capital became the latest financial services firm to have pushed to the brink of collapse before being either rescued at the eleventh hour or permanently wiped out.
August 10, 2012
On Sept. 15, 2008, facing an unprecedented loss due to the subprime mortgage crisis, Lehman Brothers, holding more than $600 billion in assets, filed for Chapter 11 bankruptcy protection. It was the largest bankruptcy filing in U.S. history.