• After a two-month wait, the nation's 19 largest banks will start to hear today how they did on those stress tests conducted by Washington regulators. [NYT]
• If the test indicates Citigroup will need more money to stay afloat, Vikram Pandit can probably kiss his job as the bank's CEO goodbye. [NYP]
• Andrew Cuomo is…
• JPMorgan had concerns about Bernie Madoff this fall and decided to pull its own money from Madoff's fund. Why didn't the bank inform its clients? [NYT]
• Andrew Cuomo plans to expand the scope of his investigation into the bonuses paid by Merrill Lynch. [WSJ]
• BofA is planning to defer bonus payments to some staff…
♦ With shares down 26 percent yesterday, Citigroup is now weighing all of its options, including possible selling the firm. The board meets today to discuss the " range of scenarios that were unthinkable only weeks ago." [WSJ]
♦ The market bounced back in early trading after historic sell-offs in recent days. [MW]
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♦ 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…
♦ Employers cut 240,000 jobs in October, bringing the year's total job losses to nearly 1.2 million. The unemployment rate is now 6.5%, up from from 6.1% in September. [CNNMoney]
♦ Why has the market been falling sharply in recent days? One reason is that hedge funds have been selling billions of their holdings to…
♦ Another bad day ahead? U.S. futures are down sharply after losses in Asia and Europe. [Marketwatch]
♦ The Fed starts making loans to American companies today. [WSJ]
♦ Turns out there were some pretty dark days at Goldman last month: Lloyd Blankfein called Citi chief Vikram Pandit to discuss a merger just after…
♦ Lawmakers and officials are moving close to ironing out a second stimulus bill after Fed chair Ben Bernanke endorsed the idea. [Bloomberg, NYT]
♦ The Treasury Department is pushing bigger banks to use the rescue package to acquire smaller, weaker rivals. [NYT]
♦ The Dow's 413-point rise yesterday was attributed…
♦ Citigroup dropped efforts to block a deal between Wachovia and Wells Fargo yesterday afternoon; it will, however, continue to press ahead with its $60 billion lawsuit. [NYT, WSJ]
♦ Morgan Stanley CEO John Mack is back on the defensive today after the bank's shares dropped nearly 26 percent yesterday to $12.45, the…
