Research analysis of the collapse of lehman brothers--美国Essay代写范文

美国Essay代写范文:“Research analysis of the collapse of lehman brothers”，这篇论文主要描述的是雷曼兄弟曾经是世界上最为著名且发展历史最为悠久的金融服务企业，在2008年的金融危机时候雷曼兄弟宣布申请破产，这对于当时的美国而言是一次非常巨大的破产申请，这次的破产事件对美国社会造成了巨大的影响，美国人民开始对于公共金融和银行系统失去了信心。

Lehman Brothers used to be one of the oldest five major global financial services companies. It was also the world’s fourth largest financial services company (Jones & Presley, 2013). Apart from bear Stearns and American international group (AIG), Lehman Brothers (Lehman Brothers) is a main body, failed during the financial crisis. Tremendous of other financial institutions were infected by the bankruptcy of Lehman Brothers. Unfortunately, this contagion effect could last for weeks, even longer. Equity underwriting company lost $23 billion in total loss risk adjustment around 7 days the bankruptcy of Lehman Brothers (Fernando et al., 2012). The most important and long lasting negative impact of bankruptcy of Lehman Brothers is that it caused the public lost confidence in the financial and banking system, which is capable of leading major financial crisis.

On September 15, 2008, Lehman Brothers filed for bankruptcy, which is one of the biggest reported U.S. bankruptcies, twice as large as the second, Washington mutual.  Lehman Brothers bank debt is $613 Billion. Before filing for bankruptcy protection, investors realize that the increase of Lehman’s financial difficulties. However, the decoration of the outlook of financial statement by adopting financial statement such as repo 105 did not ease the difficulties of the endangered Lehman Brothers.

It is true of the argument point that regulators and investors have indeed informedother company that Lehman brothers might have avoided some problems in the financial crisis. Regulators will, of course, there is a clear worsening financial situation after Lehman Brothers (Lehman Brothers).

Lehman Brothers filed for bankruptcy (Lehman Brothers) provide information on repo transactions. If it wasn't Lehman Brothers Lehman Brothers filed for bankruptcy, there may be no disclosure of accounting practice. Bank of America (Bank of America and Citigroup (Citigroup) admitted that could be divided into sales agreement rather than a mortgage. Lehman Brothers (Lehman Brothers) are highly leveraged, about 3 to 4% of their assets from shareholders' equity. The rest of the asset-backed securities are showed. Therefore, the main stakeholders (principal) investors are Lehman debt instruments. Lehman Brothers CEO Richard S. Fuld was also Chairman of the Board. Richard S. Fuld took 14 years, to bring the Lehman Brothers from a failing small bond trader into a business asset management, diversified financial giant brokerage. Lehman Brothers later eventually become one of the fourth largest investment banks on Wall Street. From 1994 to 2007, Lehman's stock price increased by a total of 17 times. Meanwhile, Richard S. Fuld led Lehman Brothers survived the Asian financial crisis, 9 ? 11 events crisis, etc.Lehman brothers has also established independent classification rules that independent directors. Conference in 2008, according to a statement from the agent management director, in addition to a director no compensation, pay an average of more than $365000 director fees. Nine directors accept compensation income at least $325000. In addition to pay and distribution/return, eight directors have the company's brokerage or investment account, six directors’ investment partnerships, and four in the board of directors of the Lehman brothers provide income. Lehman Brothers (Lehman Brothers) is the leading cause of charity and subordinate four directors. Thus, while the New York stock exchange and Lehman Brothers internal standard classification management director is independent and has only one director of ten financial contacts between Lehman Brothers (Lehman Brothers). We noticed that the board did reach 8 times, an average of 75% of the 2007 members of the board of directors to attend the meeting. In addition to complete the board of directors and management, board meeting of 5 respected are presented in fiscal year 2007 (Presley & Jones, 2014).

Lehman Brothers (Lehman Brothers), at a concentration of power in the plate on CEO/chairman, Mr. Fuld, who hold more than 50% of beneficial ownership, belongs to the directors and officers. Chief executive cannot identify the balance sheet is likely to be damaged and his longtime chief executive. Fuld since 1990 has been the members of the board of directors, therefore, there is only one of the directors (in fiscal year 2007) began when he on board. In addition to a director of the board of directors elected, Mr. Fuld became chairman/CEO. Year conditions to minimize the impact of any one director to the board of directors or board of directors of the decision making process. Mr. Fuld in his capacity as chief executive is to participate in major financial decisions by Lehman Brothers (Lehman Brothers). He understood the importance of reducing leverage to keep credit rating and result report loss to the company's survival. Bankrupt report concludes that Mr. Fuld gross negligence, in violation of the duty of care in application of misleading financial statements. When the examiner was asks, Mr. Fuld denied knowing the repo 105 transactions are used to the assets from the balance sheet (Kershaw & Moorhead, 2013).

Received, however, Mr. Fuld and his assistant forward file to "repo 105" and "the czar" the balance sheet (later chief operating officer, recall and fold, discuss the use of "repo 105" transactions, its influence on trading decisions.

He didn't notice the other members of the board of directors of the repo 105 transactions impact on financial statements and the company's business. When single trade restrictions have been removed, he did not inform members of the board of directors.

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