♦ AIG is already running out of the $123 billion in cash it was provided by the Federal Reserve, which means the authorities are slowly waking up to idea that something else might be going on. [NYT]
♦ The U.S. economy shrank at a 0.3 percent annualized rate in the third quarter as consumer spending declined at the fastest rate in 28 years. [MW]
♦ The Fed's half-point rate cut yesterday? It won't do much to prop up the economy. [NYP]
♦ Andrew Cuomo has asked banks to provide his office with bonus data. [NYT]
♦ Some hedge funds are still raking in cash from investors. Steve Cohen's SAC is down 5.5 percent in 2008 (and he's moved most of his funds into cash), but he's accepting new funds beginning in January. [Bloomberg]

♦ Deutsche Bank said third-quarter profit slipped 74 percent. [DB]
♦ Hexion Specialty Chemicals, which is controlled by Leon Black's Apollo, filed suit against Credit Suisse and Deutsche Bank over the financing for the acquisition of Huntsman Corp. [WSJ]
♦ Bank of America filed suit against the asset-management unit of Bear Stearns and former fund managers Ralph Cioffi and Matthew Tannin. [WSJ]
♦ The boutique investment bank Evercore announced a sharp drop in third-quarter earnings. [DB]
♦ A list of new Goldman partners who are rising "dealmakers," according to the Journal. [WSJ/Deal Journal]
♦ Yay, record profits for ExxonMobil. Third-quarter profit jumped 58 percent. [Bloomberg]