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 ... ... system. Recently, the leaders of the BRICS countries met in Brazil to establish the BRICS Development Bank, a counterpart to the IMF and the World Bank, specifically designed to increase the amount of money loaned to developing nations. The bank also was ...