peHUB Second Opinion 10.2.08

Reuters: More bad financial industry investments for TPG. (This time, its TPG-Axon, its hedge fund.)

Dealzone: Oh Playboy, always the opportunist.

Dealscape: For Lehman Merchant Banking, it’s is business as usual. Although I can’t imagine their deal flow is amazing right now…

Dealbook: Other aspects of Lehman are… not so business as usual. Hedge funds that used Lehman as their prime brokerage are basically frozen.

Wall Street Journal: We are only just now seeing textbook signs of a recession? What happened to the old “two quarters of decline” definition? Just kidding, but this stuff is scary.

AP: Shopping malls are in a credit crisis too! Although I thought the move from mall-based shopping to open air “centers” (not strip malls mind you, I’m talking Easton Village in Columbus, Ohio) had been in the works for years now. Turns out they’re all serving up deep discounts, even online retailers.

Dealscape: Keep congress out of accounting, Financial Accounting Foundation says.

Via Email: There’s one reason for traders to think positive. Even though Dow closed down 384 points today, SouthWest NY, a bar in the financial district, offered half price drinks hinging on that very fact.