Lehman Brothers Has $2.8 Billion Loss, Plans to Raise $6 Billion in Capital

New York–As the credit crisis continues, New York-based investment bank Lehman Brothers announced a $2.8 billion second quarter loss on Monday and said it will gather up to $6 billion in investor capital.The losses were the result of a decline in asset value and trading activity losses, the New York Times said.The firm earned $489 million in the second quarter of 2007. Lehman has been fighting with short-sellers who expressed concern about the firm’s borrowing and the method it uses to determine a value for illiquid assets, including residential and commercial mortgages.