Why Did Lehman Brothers Fail?

The collapse of Lehman Brothers on September 15, 2008 was the primary trigger of the recent global financial crisis. There have been a lot of questions surrounding the decision to let Lehman Brothers fail. Here is a fascinating account of what transpired:

http://www.nytimes.com/2014/09/30/business/revisiting-the-lehman-brothers-bailout-that-never-was.html