Citigroup dropped efforts to block a deal between Wachovia and Wells Fargo yesterday afternoon; it will, however, continue to press ahead with its $60 billion lawsuit. [NYT, WSJ]
Morgan Stanley CEO John Mack is back on the defensive today after the bank's shares dropped nearly 26 percent yesterday to $12.45, the lowest closing price in a decade. [DB, WSJ]
Barclays, which acquired the assets of Lehman Brothers last month, now plans to cut another 3,000 jobs. [Fortune]

AIG drew down another $9 billion in loans from the government. [WSJ]
The controversial $440,000 spa vacation that AIG execs took just after the bailout? It wasn't the only trip on the calendar. [NYP]
Shares on GM and Ford fell sharply on Thursday over concerns they may not have enough cash on hand. [WSJ]
GE reported a 22 percent decline in third-quarter net income. [WSJ]
Tiger Cubs, the hedge fund managers who trained under Julian Robertson, have not been spared by the market turmoil. [NYP]
Russia's richest men have lost a combined $230 billion in the last five months. [Bloomberg]
Not only is Leon Black having a bad week because his Linen 'n Things is now being liquidated, but his Bedford estate sustained a fire yesterday, too. [Clusterstock]