Death of an Era

For some employees at Lehman Brothers, the nagging feeling that all was not right in the storied firm's future became all the more crystallized after a Sept. 10 conference call in which Moody's explained why it put the brokerage's A2 rating on review. That same call also raised questions about a commonly-accepted business model on Wall Street--the broker-dealer that did not rely on deposits for funding.

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