Abstract Title

An Examination on American Insurance Group, Inc., Citigoup, Inc., and Lehman Brother Holdings, Inc. During the Recession of 2008

Author Information

Lauren PeckFollow

individual

Authors' Class Standing

Lauren Peck, Senior

Lead Presenter's Name

Lauren Peck

Faculty Mentor Name

Jayendra Gokhale

Abstract

The recession of 2008, caused by widespread financial failures due to exceedingly risky business practices, deeply affected the economy of the United States. Corporate corruption was one of the factors fueling the economic upheaval. This paper briefly examines three corporations that contributed greatly to this crisis: American International Group, Inc., Citigroup, Inc., and Lehman Brothers Holding, Inc. It provides a brief history of each organization and assesses the role of the recession on each company. Using financial information from the companies’ annual reports, this study investigates the change in value of securities and owners’ equity to determine the role of mortgage backed securities in leading these companies to near failure.

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An Examination on American Insurance Group, Inc., Citigoup, Inc., and Lehman Brother Holdings, Inc. During the Recession of 2008

The recession of 2008, caused by widespread financial failures due to exceedingly risky business practices, deeply affected the economy of the United States. Corporate corruption was one of the factors fueling the economic upheaval. This paper briefly examines three corporations that contributed greatly to this crisis: American International Group, Inc., Citigroup, Inc., and Lehman Brothers Holding, Inc. It provides a brief history of each organization and assesses the role of the recession on each company. Using financial information from the companies’ annual reports, this study investigates the change in value of securities and owners’ equity to determine the role of mortgage backed securities in leading these companies to near failure.