The bill for the auction-rate securities mess is now adding up by the hour. Merrill Lynch, Citigroup, UBS, and Morgan Stanley have all contributed to to the tally. [Dealbook]
More losses at Fannie Mae. [WSJ]
Cablevision investor Mario Gabelli is calling for Jim and Chuck Dolan to break up the company. And he's threatening a proxy fight. [NY Sun]
Google has acknowledged its stake in AOL is now "impaired." [AP]
Sprint is cancelling a $3 billion stock offering. [Dealbook]
Tone Grant, the former president of Refco, will spend the next 10 years eating prison food. [Reuters]
About 10 years after it started, Ron Perelman has settled one of the lawsuits related to his investment in Marvel comics by paying $80 million. [NYP]
Not every institution is suffering: Harvard's endowment is up between 7 and 9 percent. [NY Sun]
The anti-trust chief at the FTC is joining the law firm Linklaters LLP. [Reuters]