Lehman Bros. founded in Montgomery
Lehman Brothers, the giant investment bank that filed for bankruptcy protection Monday, was founded in Montgomery in 1850 as a cotton brokerage and served as the state's fiscal agent at one time, according to historians and a retired cotton broker.
Lehman Brothers, a 158-year-old investment bank choked by the credit crisis and falling real estate values, filed for Chapter 11 bankruptcy protection from its creditors Monday and said it was trying to sell off key business units.