With the markets taking a nosedive along with the economy Merrill Lynch CEO John Thain may have to consider parting with their investments in Bloomberg and Blackrock in order to survive.

The NY Post reports that Merrill Lynch in order to shore up their balance sheet will probably have to sell these prized assets. Even after raising $10 billion in fresh capital the investment bank faces new write-downs of nearly $6billion.

Merrill's 49 percent share in Blackrock is estimated to be worth $12 billion and may have to be sold in pieces to a foreign buyer such as a sovereign wealth fund. However, Blackrock holds veto power over any sale of the stake. Any sale would net a $3.5 billion profit for Merrill.

The stake in financial information giant Bloomberg, a privately held company is estimated to be between $5 billion and $10 billion.

Merrill Lynch reports second-quarter results later this month.