♦ John Thain says he expects "thousands" of job cuts will follow Merrill Lynch's merger with Bank of America. [Bloomberg]
♦ Another day, another bailout: The Netherlands will inject $13.4 billion into ING. [WSJ]
♦ GM is having difficulty acquiring Chrysler because it can't come up with the financing. [WSJ]

♦ The credit crunch may force Sumner Redstone to part with Viacom or CBS. [NYP]
♦ Major cuts and layoffs are expected at Yahoo! today. [WSJ]
♦ What with the war on terror and all, now the FBI says it doesn't have enough agents to investigate white-collar crime. [NYT]
♦ The collateral damage on Wall Street includes caterers, limo drivers, and headhunters. [Bloomberg]