Wall Street titan goes under after frenzied search for buyer falls short
By MarketWatch
Last update: 12:34 p.m. EDTSept. 15, 2008
NEWYORK (MarketWatch) -- Wall Street struggled Monday to adjust to a new industry order as Lehman Brothers' bankruptcy filing rocked investors and pulled down financial stocks around the globe.
on Monday filed for Chapter 11 bankruptcy protection, ending the 158-year-old Wall Street firm's run and rattling the foundation of the global financial system.Lehman said that it will continue business while it explores the sale of its broker and investment-management units and other strategic alternatives. The news sent the firm's shares tumbling more than 90% Monday morning and shook financial stocks.