The year was 2001 and Wall Street fixture Alexandra Lebenthal made a decision that would eventually come back to haunt her. She sold her eponymously named firm, Lebenthal & Co. Founded by her grandparents in 1925, the company was subsequently turned into one of the big brand names in the financial business by her father, making himself and the business famous through his showmanship during years of TV and radio advertisements. Alexandra Lebenthal also began starring in the TV and radio spots.
What’s more, her grandmother, Sayra Fischer-Lebenthal, and father, Jim Lebenthal, basically worked their entire mortal lives in the offices of Lebenthal & Co., finishing their careers and lives at 93 and 86, respectively. The two generations of Lebenthals had built a fortune and reputation selling tax-free municipal bonds — and only tax-free municipal bonds.
Alexandra Lebenthal might have figured there was a bad moon rising over her decision to sell when, duri