Drexel Burnham Lambert Bankruptcy, Part 1
Senate Banking Housing and Urban Affairs Committee heard testimony on conditions surrounding the collapse of the investment firm Drexel Burn… read more
Senate Banking Housing and Urban Affairs Committee heard testimony on conditions surrounding the collapse of the investment firm Drexel Burnham Lambert which declared bankruptcy last month after the 1989 stock market crash. At the time, Drexel Burnham Lambert was the fifth-largest investment bank in the United States. Witnesses, which included Chairman of the Securities and Exchange Commission Richard Breeden, discussed the lessons to be learned from the failure of the company and regulatory changes that need to be made. close
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