Drexel Burnham Lambert investment bank files for chapter 11 bankruptcy.
NOTE: DBL was not able to emerge bankruptcy, and was subsequently liquidated. This event caused barely a blip in the stock markets.
[added 1/28/2023]
Subsequent Events:
References:
“Wall St. Banks: Failure Should Be an Option,” Orange County (California) Register, 21 July 2008, Local:6
Drexel Burnham Lambert – Wikipedia, the free encyclopedia
en.wikipedia.org/wiki/Drexel_Burnham_Lambert
Chronology of Significant Events
www.dof.ca.gov/HTML/FS_DATA/LatestEconData/Chronology/chronology.html#2009
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