出版社：Economic Laboratory for Transition Research Podgorica
摘要：The bankruptcy of the fourth largest investment bank in the worldLehman Brothers Holdings Inc. in 2008 remains the largest bankruptcyin the history of United States. This bankruptcy is viewed as aturning point in the Global Financial Crisis. Paradoxically, eventhough the financial system had many safeguards (auditors, auditcommittees, the board of directors, credit rating agencies, governmentsupervisors) whose purpose was to inform the investing publicabout the actual financial situation of the institution, Lehman Brothersbankruptcy came as a shock to financial markets across theglobe revealing that many of the “gatekeepers” failed. Comparativeanalysis of liability cases after bankruptcies of Lehman Brothers andfinancial institutions in Lithuania shows that contrary to Lehman’scase, the demise of financial institutions in Lithuania cannot beattributed to sub-prime mortgages caused financial crisis, real estatemarket fluctuations or any other external variable. Problems arerelated to weak supervision, inefficient regulation, and commonunethical behavior in the financial sector.
关键词：Bankruptcy of financial institutions;liability;auditors;Lehman Brothers;Lithuanian banks and credit unions.
