* Could GMAC qualify as a “bank” under the Treasury Department’s bailout plan? That’s the hope of hedge fund manager — and GMAC shareholder — David Bullock, according to a letter he sent to the financing company’s CFO. I wonder if Cerberus paid for the postage…
* Morning call: Futures dip over earnings concerns, and the Asian markets tumble.
* Dan Freed: Are credit swap defaults bad enough to ban?
* Carl Icahn: Paulson demanded too little from banks on executive comp.
* Like.com’s perfect timing: $32m Series C round.
* Hank Paulson on Charlie Rose: