Lehman Pulled Money Out of Anglo Irish Days Before Bankruptcy

  • Last-minute withdrawl worsened Irish lender's funding problems
  • Both banks were victims of 2008 global financial crisis

Days before Lehman Brothers Holdings Inc. filed for bankruptcy in 2008, the U.S. investment bank pulled 350 million euros ($380 million) out of Anglo Irish Bank Corp., exacerbating the Irish lender’s funding crisis.
An internal e-mail circulated between Anglo Irish executives on Sept. 12, 2008, showed the lender lost 2 billion euros in deposits over seven days, including from Lehman Brothers, according to documents shown to jurors at a trial of former finance executives in Dublin Friday.

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