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You are here News Economy Lehman downfall triggered by mix-up between London and Washington

Lehman downfall triggered by mix-up between London and Washington

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A breakdown in communications at the highest level between the US and the UK led to the shock collapse of the investment bank Lehman Brothers in September last year, a Guardian/Observer investigation has revealed.

The downfall of Lehman, which triggered the biggest banking crisis since the Great Depression, came after a rescue bid by the high street bank Barclays failed to materialise.

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