♦ Horror of horrors: The average Goldman partner may take home a bonus of $1 million or less this year. [FT]
♦ One of Goldman's flagship hedge funds, Goldman Sachs Investment Partners, has lost close to $1 billion since January. [FT]
♦ UBS posted a third-quarter profit, but it still laid off 700 U.S.-based employees last week. [CNNMoney, NYP]

♦ The Treasury Department is thinking about using its $700 billion fund to buy stakes in a range of financial companies, not just banks and insurers. [WSJ]
♦ Swiss Re, the world's second-biggest reinsurer, posted its first loss in almost six years. [Bloomberg]
Carl Icahn has sold more two-thirds of his shares in the auto supplier Lear. [DB]
♦ Yahoo and Google have sent the Justice Department a revised version of their search agreement in the hopes they'll avoid a lawsuit. [WSJ]
♦ Is Jon Corzine the frontrunner for Treasury Secretary in an Obama administration? [The Deal]