• Embattled Lehman Bros. posts a $2.8 billion loss for the quarter [WSJ]
  • Martin Sullivan has stepped down as AIG's CEO [NYT]
  • Two Bear hedge fund managers may face criminal charges [WSJ]
  • Nearly half of Wall Street's profits from 2004-7 have gone up in smoke [NYT]
  • And yet Steve Schwarzman is hoping to raise more than $22 billion for his new fund [NYP]
  • Phil Falcone is the hedge fund world's new "Iron Man" [NYP]