What's going on with Lehman Brothers?

Not too long ago, it looked like the same market rumors that forced Bear Stearns out of business were dogging Lehman Brothers. Fortunately, it was never pushed to the brink; it responded aggressively. But after a respite, the stock is really moving south again. On Friday, it lost nearly 6 percent of its value. Seeking Alpha notes that there are a bunch of shorts betting against the stock. Greenlight Capital hedge fund manager David Einhorn, according to the Wall Street Journal, suggested at the Ira Sohn conference that Lehman has a lot more write downs to come, and questions large, unrealized gains in the first quarter. The short activity seems to be mounting. We'll see how this turns out. It's not a comfortable position, thought it does not appear to be in Bear Stearns territory, yet.  

For more:
- here's the Seeking Alpha item
- here's a Fortune article

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