Unlike Morgan, it looks like Lehman is doing pretty good. It got a nice bump from overseas operations and it was able to control its compensation costs. There may be problems depending on how hedge funds play out though:
Lehman and other banks have seen the percentage of their business lending too, trading for and trading with hedge funds swell in recent years. That's led some industry analysts to fret that any problems with hedge funds would also damage Wall Street's top firms.
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