Layoff announcements, grim unemployment data, and dismal retail sales figures should lead to another nasty trading session on Wall Street. [CNN]
A group of managers and senior execs from Neuberger Berman won the auction to take over Lehman's money management business. [NYT]
Credit Suisse is laying off 5,300 people. [Reuters]
Citigroup's top execs like Vikram Pandit and Bob Rubin say they're willing to forgo annual bonuses. How generous of them! [FT]
Thomas H. Lee may shut down two hedge funds it launched recently. [WSJ]
Poor Steve Schwarzman is "knocking on more doors and pressing more flesh than ever" to get business done these days. [NYP]
Fortress Investment Group is falling apart fast. [NYT]
Carlyle Group LLC is cutting 10 percent of its staff. [WSJ]