Lehman Nets 550 Percent Return On Formula One Investment

Lehman Brothers, the investment bank whose downfall was based on ill-fated investments in opaque mortgage-backed securities that many say was a catalyst for the 2008 financial crisis, did make an astute investment decision in 2006 to back a Formula One racing group. The investment ultimately generated a 550% return, delivering $2 billion of additional revenue to the bank’s creditors, according to a Forbes article. Before anyone gets too excited, that is nothing more than a drop in the bucket relative to the $450 billion the bank left in debt after the fallout from the 2008 financial crisis. The investment initially…