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