AP: While the bailout the Dow dominated today’s headlines, the auto-makers scored a bailout of their own, in the form of a $25 billion check. This seems like nothing, in light of today’s events, but on any other day, wouldn’t people be skeptical if not downright annoyed that Detroit gets a free pass for its failure to innovate?
FT: Michael Skapinker declares, “Three decades of untrammelled free markets and minimal government are over,” comparing 1978 and 2008 in a pretty engaged economic analysis.
Dealbook: Picks up on two Lazard bankers’ published shame over what Wall Street has done to the economy.
Dealscape: Unveils Charlotte’s little petname for itself: Banktown. Also points out that old Banktown isn’t looking so glib after today’s news.
Dealbook: Unsarcastically calls Dow’s 777-point nosedive a “slide.”
Wall Street Folly: Let the finger pointing begin.
Dealbook: Louise Story is all over the hedge fund demise. I can’t say I loved her prior story on the topic, but this one might carry a little more gravitas. Hedge Funds Are Bracing For Investors To Cash Out.
Dealscape: Picks up the Wall Street Journal’s report that Citi is tossing a few Japanese assets on the block, possibly to pay for Wachovia.