* Eric Eldon reports that Facebook may let employees sell some stock, at a $4 billion valuation.
* If Lehman Brothers follows Merrill’s lead and begins unloading risky assets, it may find itself in need of new capital.
* Newsweek profiles Quadrangle Group founder Steven Rattner. Matt Wurtzel reads this as floating Rattner
* Speaking of Steven Rattners: Andrew Ross Sorkin discusses the bizarre events that may have led the other one to step down as head of DLJ Merchant Banking.
* NYT reports that Freddie Mac’s board is interviewing new CEO candidates, and Alan Schwartz has made the short-list (??!!).
* Wallstrip on the Hollywood recession:[youtube=http://www.youtube.com/w/?v=zRfZ6IGW3eA]