One of the main reasons for Lehman Brothers' bankruptcy was the imbalances in financial markets and the adoption of excessively risky strategies. Specifically, Lehman Brothers' failure to anticipate the effects of the housing bubble that burst in the mid-2000s, and its securitization of high-risk subprime mortgage loans, which were then sold to investors, created significant problems. The decline in the value of these securities and the delays in mortgage repayments severely damaged Lehman Brothers' balance sheet. Moreover, the bank's high leverage ratios and poor liquidity management left it unable to meet its debt obligations. This situation ultimately led to Lehman Brothers' bankruptcy on September 15, 2008, triggering a severe confidence crisis in financial markets. This study examines the underlying causes of Lehman Brothers' collapse, the impacts of the collapse, and potential measures that could have been taken to prevent it.

The consequences of Lehman Brothers' collapse had extensive implications for the global financial system. The bankruptcy caused a liquidity crisis that had a domino effect on other financial institutions, leaving many large banks and financial firms in distress. This collapse led to a contraction in credit markets worldwide and contributed to economic recessions. To ensure the stability of the economic system, proposed measures include the development of stricter regulatory and supervisory mechanisms, particularly increasing banks' capital adequacy ratios and strengthening risk management strategies. Additionally, it is emphasized that enhancing the transparency of financial markets and establishing effective protocols for rapid intervention by central banks and governments during crises are necessary.