Yesterday's 504-point drop was the worst day for the Dow since 2001. [NYT, WSJ]
AIG is now teetering on the edge: It's trying to raise as much as $75 billion to weather the crisis and the decision by ratings agencies to cut the firm's credit ratings has made the job harder. [WSJ]
Lehman senior management is trying to negotiate a deal to sell a portion of the firm to Barclays, which would include the firm's broker-deal operations and provide 10,000 jobs for ex-Lehman employees. [WSJ, NYT]
Attention is now focused on Goldman and Morgan Stanley. This morning Goldman reported that profits fell 70% during the third quarter ending in August. Morgan Stanley reports earnings tomorrow. [CNNMoney]
Lehman's CEO, Dick Fuld, tried to negotiate a deal for Lehman up until the very end. Since then, he's been largely out of sight, which may be a good thing since Lehman employees are furious with him. [NYT]
The SEC is examining measures to rein in certain forms of short-selling that were partly to blame for Lehman's downfall. [Dealbook]
John Thain looks pretty smart for having sold Merrill to BofA. Dick Fuld: not so much. [WSJ]
Merrill considered selling a stake to Goldman before doing a deal with BofA. [WSJ]
Not surprisingly, Lehman's competitors have been looking to pick up business that the firm left behind. [WSJ]
The bankruptcy of Lehman was bad for a number of hedge funds, including George Soros's Soros Fund Management. [Dealbook]
Bloomberg LP is reassuring employees that the financial meltdown won't hurt Bloomberg's core business. [NYP]
The Times looks at the "tectonic shifts within the American financial industry" that will result from the events of this week. [NYT]
