BUSINESS

Lehman Brothers' Warnings Were Ignored, Confidential Memo Shows

11/08/2009 05:12 am ET | Updated May 25, 2011

Sept. 8 (Bloomberg) -- The warning was ominous: "Massive global wealth destruction."

That's what Lehman Brothers Holdings Inc. executives predicted before they filed the biggest bankruptcy in U.S. history. "Impacts all financial institutions," read one bullet point in a confidential memo prepared for government officials obtained by Bloomberg News. "Retail investors/retirees assets are devastated."

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