▁America ▁begins ▁st alling ▁the ▁deal , ▁not ing ▁that ▁Le h man ' s ▁valu ation ▁puts ▁them ▁" under water " ▁by ▁bill ions ▁of ▁dollars . ▁ ▁F uld ▁must ▁now ▁depend ▁on ▁Bar cl ays , ▁and ▁he ▁is ▁clearly ▁growing ▁more ▁des perate . ▁ ▁Ret aining ▁hopes ▁that ▁Bank ▁of ▁America ▁will ▁change ▁its ▁mind , ▁F uld ▁secret ly ▁orders ▁the ▁firm ' s ▁att orney ▁Har vey ▁R . ▁Miller ▁( Rich ard ▁Dur den ) ▁begin ▁draft ing ▁a ▁bank rupt cy ▁pet ition . ▁ ▁Miller ▁is ▁incred ul ous , ▁telling ▁F uld ▁that ▁a ▁Le h man ▁bank rupt cy ▁would ▁be ▁an ▁un pre ced ented ▁cat ast rop he , ▁a kin ▁to ▁the ▁United ▁States ▁government ▁going ▁bank rupt . ▁ ▁As ▁Paul son ' s ▁group ▁searches ▁for ▁alternatives , ▁Le h man ' s ▁assets ▁are ▁subject ▁to ▁" valu ation " ▁by ▁anal yst s ▁from ▁other ▁fir ms . ▁ ▁The ▁anal yst s ▁spend ▁the ▁night ▁por ing ▁over ▁boxes ▁of ▁paper work . ▁ ▁Calcul ation ▁is ▁made ▁extremely ▁difficult ▁because ▁much ▁of ▁the ▁assets ▁are ▁based ▁on ▁coll ater al ized ▁deb t ▁oblig ation ▁( C DO ) ▁instruments ▁whose ▁value ▁is ▁difficult ▁to ▁assess , ▁though ▁it ▁is ▁clear ▁that ▁Le h man ▁put ▁a ▁higher ▁value ▁on ▁certain ▁C DO ' s ▁than ▁other ▁fir ms ▁had . ▁ ▁O verse eing ▁the ▁valu ation , ▁Zach ▁mentions