The stock market is down,but brokerage house stocks are still up. The brokers' head count and compensation are way up. Setting an example of ruthless cost control, the heads of the five big firms last year paid themselves a mere $154 million. Wall Street's overextension is distilled in the news that Lehman Brothers has agreed to lease 1 million newly built square feet at London's Canary Wharf. In these new offices the firm will house 1,000 new hires. New hires? New construction? In a bear market?
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