Attorney General Andrew Cuomo says Citigroup should follow Goldman's lead and forgo bonuses for senior execs. [NYP]
Embattled Yahoo! CEO Jerry Yang has announced he will step down as soon as the board finds a replacement. [NYT, WSJ]
Mark Cuban's attorney on the insider trading charges leveled against his client: "The case has no merit, and is a product of gross abuse of prosecutorial discretion." [WSJ]
Treasury Secretary Hank Paulson is unlikely to use the rest of the $700 billion bailout fund on any new initiatives, preferring to hand over the remaining pennies—and very big problems—to his successor in the Obama administration. [WSJ]
Andrew Ross Sorkin on extending the bailout to GM: "Taxpayers shouldn't fork over a cent, at least until shareholders are wiped out, management is tossed out and the industry is completely reorganized." [NYT]

BlackRock is cutting jobs for the first time in its 20-year history. [Bloomberg]
A desperate Ford is selling its 12 percent stake in Mazda for around $540 million. [Reuters]
Home Depot says said weak consumer demand will push sales down by as much as 8 percent for the current fiscal year. [CNNMoney]
Hedge funder John Paulson reveals he's started buying troubled mortgage-backed securities. [FT]
General Electric CEO Jeff Immelt has been adding GE stock to his portfolio. [NYP]
Japan's largest bank, Mitsubishi UFJ, said first-half net profit plunged 64 percent. [DB]