Lehman Brothers Channeled Risk Through Alter-Ego Hudson Castle - NYT
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According to reports from the New York Times, Lehman Brothers channeled risk through an alter ego firm named Hudson Castle.
While Hudson Castle appeared independent business, it was deeply entwined with Lehman. For years, its board was controlled by Lehman and it was stocked with former Lehman employees. Lehman owned a quarter of the company.
The report said none of this was disclosed by Lehman.
While Hudson Castle appeared independent business, it was deeply entwined with Lehman. For years, its board was controlled by Lehman and it was stocked with former Lehman employees. Lehman owned a quarter of the company.
The report said none of this was disclosed by Lehman.
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