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I don't actually like Lehman common, but their series C and D Cumulative Preferred shares are quite attractive right now. They're trading at a 4x discount to the liquidation preference and at a yield of ~20%. The C and D are cumulative, so even if the dividends are cut temporarily, the lost dividends will eventually made up (provided the company survives, of course).
As of today, both C and D are trading at ~$13, but the C has the greater dividend, so I'd go with C. Their other preferreds are non-cumulative and are only trading at 1/3 of par, so don't look there.