Detroit's Big Three automakers presented new turnaround plans (and their request for $34 billion) to Congress yesterday. [WSJ, Bloomberg]
Merrill Lynch plans to cut year-end bonuses in half. [Bloomberg]
Now that it's turned itself into a commercial bank, Goldman Sachs is thinking about starting an online banking operation, too. [DB]
Goldman is tapping Gerald Corrigan, a former head of the Federal Reserve Bank of New York, to serve as chairman of its bank holding company. [FT]
Billionaire financier face-off: One of Carl Icahn's companies is suing a firm owned by Leon Black. [NYT, NYP]
Ramius Capital, the struggling hedge fund operated by Peter Cohen, is closing four of its funds. [WSJ]