Hate to say I told you so

Lehman Brothers says it will raise $6 billion through a stock issuance, and expects a second-quarter loss of approximately $2.8 billion due to more pain from the credit crisis.

The nation's fourth-largest investment bank said Monday it expects to post a loss of $5.14 per share for the quarter ended May 31. It made $489 million, or 81 cents per share, in the year-ago period.

Lehman says it will raise capital from both common and preferred stock.

Stock is down 12% pre market and as I have been saying for awhile there is no way these investment bank dont need more capital infusion. You can listen to all the ANALyst (pun on ANAL) all you want, they truly know nothing.

Citibank will be a teenager today for sure and I expect the SKF to go to new highs soon than later. As i predicted before the end of summer, so we will see soon enough.