It's the Monday after a holiday. Naturally, everybody is a bit off. Sort of like this Mitsubishi 3G Eclipse, which—after some freezing rain in Minnesota last week—tried (and failed) to park on a nearly flat driveway. Watch inside.
• The Carlyle Group will pay $20 million to end an investigation by Andrew Cuomo into its dealings with pensions and placement agents. [NYT, WSJ]
• Two attorneys at the SEC are under investigation for insider trading. [CBS]
• Hedge fund manager Jim Simons is facing tough questions from angry investors who put money…
• Treasury Secretary Tim Geithner plans to ask for greater oversight of financial markets and stricter regulation today; his proposal will also seek more control over hedge funds and private equity firms. [BN, WSJ, NYT]
• The departure of two execs from AIG's Paris office could trigger defaults on $234 billion in…
• Tim Geithner has unveiled his latest plan to deal with the financial crisis. This one involves a partnership between the government and private investors, and could eventually involve buying up to $1 trillion in toxic assets from banks, although it isn't generating unanimous support. "It fills me with a sense of…
♦ 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…
♦ 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…
♦ Morgan Stanley closed its deal with Mitsubishi UFJ Financial Group. The $9 billion investment on the part of MUFJ gives it a 21 percent stake in the beleaguered bank. [WSJ, DB]
♦ U.S. stock futures rallied on Monday morning as government efforts to beef up the banking system reassured panicky investors. [WSJ]
♦ …
♦ The world's central banks are joining together to carry out a coordinated (and unprecedented) cut in interest rates, part of a plan to restore confidence in the global economy. [WSJ, NYT]
♦ Speculation that Morgan Stanley's deal with Mitsubishi UFJ had fallen through led to a huge drop in Morgan's stock price; the…
♦ A recap of what happened on Wall Street yesterday, just in case you've been asleep for the last 36 hours. [NYT]
♦ In a statement this morning President Bush said he was disappointed the bailout bill didn't pass and warned that "painful and lasting'' economic damage will follow if a settlement isn't reached.…
