Lehman May Sell Neuberger Berman to Raise $8 Billion, CNBC Says: “Lehman Brothers Holdings Inc. may sell at least part of its Neuberger Berman asset management unit to raise as much as $8 billion, CNBC reported, citing people it didn't name.

A sale of the unit may make it difficult for Lehman, the smallest of the major Wall Street investment banks, to compete as an independent company, CNBC said.”

This is the same Lehman Brothers (LEH) that absolutely swore that they didn’t need to raise any additional capital as recently as a couple of weeks ago…

Anyways… Selling Neuberger Berman means the following:

1) Lehman really does need to raise capital, and lots of it.
2) Lehman actually tried to quietly raise capital, and failed.
3) Lehman is now left with no other option but to sell assets.
4) Lehman will have to sell the ‘good stuff’ and keep the ‘bad stuff’.
5) The end result will be a smaller, weaker Lehman.
6) Therefore Lehman can’t survive as an independent entity.