It's no secret that Richard Fuld is running out of options. Time is not his friend. The CEO of Lehman's best hope for a deal at this point may rest with South Korean banks. The latest: The Korean press has reported that Korea Development Bank, run by a former Lehman Brothers executive, has proposed a consortium to buy a 25 percent stake in the bank. The deal would be worth $5 billion. The deal proposal would also separate a portion of Lehman's $60.7 billion in mortgage-related assets into a separate entity. It's unclear if anything is imminent. Meanwhile, rumors that HSBC is interested have cropped up. So the Richard Fuld watch continues. It's possible that we could get to Lehman's third quarter earnings report without a deal in place. It needs to reassure the market somehow.

For more:
- here's the Forbes article
- Cramer: Deal for Lehman is likely. Video

Related Articles:
Lehman Brothers' near-deal with South Korean institutions
Could anyone buy Lehman right now?