Fallout from Morgan Stanley's disappointing quarter. To add to the mess, John Mack is now dealing with the discovery that a rogue trader lost $120 million. [NYP, WSJ]
Ralph Cioffi and Matthew Tannin, who operated the two collapsed Bear Stearns hedge funds, have surrendered to face criminal charges. [NY Sun]
John Paulson of Paulson & Co. says the worst is yet to come. [FT]
More chatter about Dick Fuld and his plans to merge or sell of Lehman Bros. [Dealbook]
Leon Black's Apollo has filed suit to extricate itself from a deal to buy Huntsman [WSJ]
Steve Feinberg's Cerberus has been sued over the failed buyout of United Rentals [Reuters]
