Lehman Brothers was a major global financial services firm founded in 1850. It played a significant role in investment banking, trading, and asset management. The company grew rapidly and became one of the largest investment banks in the United States, known for its involvement in the mortgage market and various financial products. However, in 2008, Lehman Brothers filed for bankruptcy, marking one of the largest bankruptcies in U.S. history. This event was a key moment in the 2008 financial crisis, leading to widespread economic turmoil and prompting discussions about the regulation of financial institutions and the risks associated with high-leverage investments.