The U.S. consumer price index fell 1.0 percent in October compared to the previous month, the biggest drop in 61 years. [WSJ]
Citigroup is liquidating another one of its hedge funds after it plunged 53 percent last month. Also: Citi's stock dropped to its lowest level in 13 years yesterday. [FT, NYP]
Just because he spends his days taking aim at Wall Streeters doesn't mean Andrew Cuomo left any bigwig financiers off the guest list for his birthday party/fundraiser on Dec. 2. [NYP]
The CEOs of GM, Ford and Chrysler who pleaded poverty in front of Congress yesterday flew their private jets to get there. [ABC News]
Most hedge funds are pulling back right now, but hedge fund king John Paulson actually celebrated on Monday night with a lavish dinner for more than 100 at the Metropolitan Club. [DB]

Bank of America chief Ken Lewis says the U.S. economy will get worse before it improves. [DB]
General Electric said it plans to cut costs by $2 billion next year at its finance division, GE Capital. [WSJ]
Finding a replacement for Jerry Yang at Yahoo! will not be easy. [WSJ]
America's airlines are now having a half-price sale MD-80s, 747s, and other gas guzzlers, in case you're interested. [Clusterstock]