Sources say Lehman Brothers' (LEH) is sitting on a large portfolio of deteriorating commercial real-estate loans, which may lead the firm to write down $1.3B in Q4, more than recent estimates of $800M-$1B.
While the size of the writedown is relatively small compared to those of Merrill Lynch (MER), Citigroup (C) and UBS (UBS), it may indicate that even firms that apparently avoided major missteps are finding it increasingly difficult to emerge unscathed from the debt market crisis.
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