06/12/2010 05:12 am ET | Updated May 25, 2011

Hudson Castle: Lehman Brothers' Secret Debt Mule

It was like a hidden passage on Wall Street, a secret channel that enabled billions of dollars to flow through Lehman Brothers.

In the years before its collapse, Lehman used a small company -- its "alter ego," in the words of a former Lehman trader -- to shift investments off its books.

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