Lehman looks for buyers

Over the last 24 hours CEO Dick Fuld has been putting out the word that the 158-year-old investment bank - all of it - is on the block. Just yesterday, the hope was that Lehman could generate more capital by just selling off its real estate holdings and part of its asset management company. But events are moving too fast for those interim steps. At this point, according to the NYT, the hope is that Lehman will be able to hold on until this weekend. The stock down nearly 40 percent today - and that's on top of earlier losses this week.

With each passing day, the pressure is growing for Lehman to secure a financial lifeline. While Lehman has few options, it has some advantages that Bear Stearns did not have before its collapse, mainly the special loan program subsequently created by the federal government for Wall Street banks. The risk for Lehman is that employees and money might quickly drain away if confidence in the bank continues to erode.

Many of the obvious suspects are being mentioned as possible acquirers: Bank of America Corp., France's BNP Paribas, Deutsche Bank AG and Britain's Barclay's Plc. Also don’t forget private equity. Here's an AP story.