Lehman Brothers' near-deal with South Korean institutions

It's not hard to conclude that Lehman Brothers is scouring the globe for capital. The latest: The firm nearly struck a deal to raise almost $5 billion from South Korean institutions, but the agreement fell apart. The news, reported by the New York Post, is yet another sign that Lehman Brothers is in serious need of capital. The conventional view as of now is that it will post another large writeoff and another loss for the third quarter. It would like to accompany that announcement with more reassuring news of additional capital, but will that be possible? It seems like CEO Richard Fuld has to do something rather dramatic. The Post reports he and COO/President Bart McDade have held numerous discussions with prospective international players. They are not exactly bargaining from strength.

For more:
- here's the article 
- more speculation about Fuld's job. Article

Related Articles:
How will Lehman raise capital?
Update: Lehman Brothers shopping for capital
Can Lehman Brothers be saved?
Top two execs at Lehman ousted; what about Fuld?