In September 15, 2008, New York-based investment bank and financial services firm Lehman Brothers filed for Chapter 11 bankruptcy. The bankruptcy filing, which remains the largest in American history, had many far-reaching effects on both domestic and foreign economies. The bankruptcy of Lehman Brothers and resulting Credit Crisis of 2008 led to sweeping domestic financial regulatory reform. New legislation, such as the Dodd-Frank bill – coupled with the creation of the Consumer Financial Protection Bureau stand as two examples of measures the government took to guard against future disasters in the wake of this historic bankruptcy. Nevertheless, it took years for investor and consumer confidence to reenter the market.
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