Monday morning's crisis on Wall Street surrounding the collapse of Lehman Brothers Holding Inc. is set to have a major impact on the Israeli economy, reported Israel National News.
One of Wall Street's heavy hitters, especially in the mortgage market, Lehman Brothers was one of the first international banks to open a branch in Israel. The bank has invested in businesses and public institutions across the Jewish state to the tune of about $250 million.
Lehman Brothers declared bankruptcy after its stock dropped nearly 94 percent this year.