♦  Another bad day ahead? U.S. futures are down sharply after losses in Asia and Europe. [Marketwatch]
♦  The Fed starts making loans to American companies today. [WSJ]
♦  Turns out there were some pretty dark days at Goldman last month: Lloyd Blankfein called Citi chief Vikram Pandit to discuss a merger just after Lehman went bankrupt. [FT, WSJ]
♦  Citadel's Ken Griffin remains in the hot seat after rumors of steep losses led him to hold a rare conference call on Friday evening. [NYP, NYT]

♦  Mitsubishi UFJ Financial Group, which invested $9 billion in Morgan Stanley a couple of weeks ago, now says it will raise up to $11 billion by selling stock. [WSJ]
♦  Ford may sell Volvo to BMW as part of an effort to raise cash. [Times UK]
♦  CenturyTel has agreed to buy local-telephone operator Embarq for $5.82 billion. [WSJ]
♦  Bankers and brokers are leaving NYC to find work, moving to places like south Florida and the Midwest. [NYP]
♦  The New Yorker's James Surowiecki on the panic in the markets. [NYer]
♦  White-collar defense lawyers are busier than ever, not surprisingly. [Bloomberg]
♦  Disgraced hedge fund manager John Devaney was booed off the stage of a conference last week. [NYP]