Domino Effect: How Lehman's Failure marked the beginning of the End for the Dollar

... Congressional Hearing examining the failure of Lehman Brothers. (Source: Wall Street Journal) The reverberations from the failure of Lehman Brothers were felt all over the world, including the BRICS emerging markets economies. These governments felt that their ... ... in one word: Globalization. In India’s case, its rapid integration into the global financial system followed the 1998 financial crisis. It sought to raise its foreign reserves, as did every other emerging market affected by the crisis. So where ...