A couple of Bear hedge fund managers were arrested for pretending everything was fine when it so wasn't at all (The Times).
Hedge fund god John Paulson said the credit crunch is far from over: it's barely begun (The Telegraph).
Goldman isn't making any analysts redundant: it's just that it wants them for one year instead of three (Dealbreaker).
No need to panic, but Pandit hasn't finished with the writedowns at Citigroup (Financial Times).
US banks only need another $65bn in new capital (Reuters).
European banks have a $400bn hole in their balance sheets (FT).
European bank CDS up 25% (Financial News).
Japan to the rescue of Barclays (FT).
Goldman benefited from a flight to quality (Wall Street Journal).
...and breathed new life into SIVs (Alphaville).
Even Lehman did better than Morgan Stanley (Bloomberg).
Matthew Piper lost 60m for MS, but he is a good man who likes dogs (Telegraph).
UBS private banker promises to reveal all in plea bargain (The Times).
Don't expect to make a mint as a junior banker at JPMorgan (Dealbreaker).
China the new Babylon for securitisation bankers? (Financial News).
Give up being a banker, become a spy (The Times).