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Lehman to Pay $2.4 Billion to End Crisis-Era Mortgage Claims

Lehman to Pay $2.4 Billion to End Crisis-Era Mortgage Claims

Lehman "created and enjoyed a robust market" in securitizing home loans, Chapman said, recounting the company’s role in the financial crisis. But plans went awry when the housing bubble popped and defaults soared on mortgage bonds, which “threatened to pull the entire U.S. economy into the abyss as well,” Chapman said. New York-based Lehman went bankrupt in 2008.

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