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1. Financial services - bankrupcty.

Lehman Brothers was a global financial services firm which declared bankruptcy in 2008.

The collapse of Lehman Brothers was a major event in the global financial crisis starting in 2007/8.

2. Global financial crisis.

The term 'Lehman' is often used as an abbreviation for the conditions and market behaviour which preceded the global financial crisis, or for the financial crisis itself.

Pre-Lehman excesses
"As the necessary balance sheet repair from the pre-Lehman excesses is still incomplete, central banks will try to keep their economies off their leashes for as long as possible to avoid running the risk of choking off the upswing."
The Treasurer magazine, February 2018, p9 - Kallum Pickering, senior UK economist, Berenburg Bank.

See also