A report says that the Asset Management division buyout negotiations with Korea's KDB has fallen-through. True or not, Lehman (Quote: LEH) has sunken to a new low - under $10 per share. The House of Lehman cannot stand independently for long at that price.

In the meantime, Lehman employees brace for a third round of layoffs this year (another 1,400 are expected to be released). And the firm plans a conference call to discuss third quarter losses and their plan for the next two quarters at 08:00 tomorrow, Wednesday September 10th.