Richard S. Fuld Jr., the former chief executive, will discuss these lost opportunities in a Congressional hearing on Monday.

Merrill Lynch and Lehman Brothers rode similar paths of decline but had vastly different endgames.

Unlike the crisis 100 years ago, today’s troubles are far more complicated and widespread.

If you get your company into enough trouble to threaten the financial system, Ben Bernanke, the Federal Reserve chairman, and Henry Paulson, the Treasury secretary, won’t let you collapse.

The accord could save 8,000 to 10,000 Lehman jobs and allow Robert E. Diamond Jr., the president of Barclays, to attain his longtime goal of expanding his bank’s reach in the United States.

Lehman’s bankruptcy filing leaves creditors lining up, employees awaiting word on paychecks and benefits and Lehman’s counterparties rushing to limit their exposure.

A crisis of confidence in the markets culminated in a weekend of brinksmanship and failed appeals.

As confidence in Lehman continued to drain away, the bank, one of the oldest names on Wall Street, continued to reach out to potential buyers, including Bank of America and Barclays.

While the Treasury Department and the Fed were working to broker an orderly sale, it was unclear whether the Fed would stand behind any deal.

In scenes eerily familiar of the final days of Bear Stearns, employees at Lehman Brothers are watching the value of their stock evaporate and their job prospects dim.