15 years after the collapse of Lehman Brothers, Wall Street is as predatory as ever. But a more democratic economy could be rising all around us.

By Marjorie Kelly | September 13, 2023 READ

It’s been 15 years since the collapse of Lehman Brothers.

The investment firm’s startling downfall marked the beginning of a historic Wall Street crash that swiftly wiped out over $7 trillion in home equity and $2.8 trillion in retirement portfolios.

This anniversary is an opportunity to take a step back and look at the overarching problem here: “financialization.” While we used to have an economy that manufactured stuff, now it manufactures debt.