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&lt;p&gt;Today the &lt;em&gt;Financial Times&lt;/em&gt; reported that battered&amp;nbsp;Lehman Brothers had recently tried unsuccessfully to sell half of its shares to two Asian banks: China&#39;s CITIC Securities and the Korea Development Bank.&lt;/p&gt;&lt;p&gt;The news of Lehman&#39;s attempt to get a huge capital infusion&amp;#8212;coming just days after it announced plans to sell its asset management units&amp;#8212;likely means its losses are deeper than it has led on, and more write-downs are on the way. The news also meant that investors continued to devalue Lehman&amp;#8217;s stock and Wall Street analysts continued to predict tougher times ahead for the fourth largest investment bank in the U.S. &lt;/p&gt;&lt;p&gt;Lehman&amp;#8217;s stock, already down 80 percent from its high in the past 12 months, has fallen another 5 percent in value today. Meanwhile, Citi&#39;s Prashant Bhatia severely cut Lehman&#39;s third quarter 2008 earnings estimate, while also slashing estimates for Goldman Sachs and Morgan Stanley. According to Bhatia, Lehman will write-down $2.9 billion in bad assets during the third quarter, and Goldman and Morgan Stanley will write-down $1.8 billion and $1.7 billion, respectively.&lt;/p&gt;

Derek Loosvelt

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