Final answer:
Lehman Brothers' bankruptcy led to the Panic of 2008; Jay Cooke & Co.'s failure triggered the Panic of 1873; Railroad speculation sparked the Panic of 1893.
Explanation:
The bankruptcy of Lehman Brothers initiated the Panic of 2008, marking the greatest corporate bankruptcy in history. This event, along with the collapse of other major US investment banks, led to a widespread financial crisis.
The Panic of 1873 was spurred by the failure of Jay Cooke & Co. in attempting to finance the Northern Pacific Railroad, resulting in a depression marked by railroad overbuilding and shaky financing.
The Panic of 1893, triggered by railroad speculation, caused high unemployment and a long-lasting depression.
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