The global capital markets declined nearly 10% in value in September.  (Capital Spectator)

Even the best hedge fund managers are hurting in this market.  (NYTimes.com)

Some hedge funds are being forced to take extraordinary measures, like cutting fees, to keep clients on board.  (WSJ.com)

Even so, hundreds (if not thousands) of hedge funds may close their doors.  (FT Alphaville, Market Movers)

One hedge fund, Paulson & Co., is thriving in 2008.  (Deal Journal)

The securities lending business is in turmoil.  (WSJ.com)

What happened to trading in Google (GOOG) near yesterday’s close?  (MarketBeat, The Big Money, Woodrow)

What is going to happen to the stub that is Wachovia (WB)?  (Deal Journal)

The biggest banks will only get bigger.  (Deal Journal)

The credit markets are still a mess.  (Market Movers)

Municipalities are now pinched by the credit crisis.  (DealBook, Free exchange)

What does history tell us about bailouts?  (Liscio Report)

How did we get here?  “Complexity became a virtue.”  (Economix)

“(I)n the (relatively) open US economic system, failure is not to be feared, and it might actually be a sign that problems are being corrected and learned from.”  (The Stalwart)

A parable on the crisis and bailout.  (macroblog)

“The crisis is complex and has many causes; there won’t be a simple or quick solution.” (Marginal Revolution)

What might happen after the Paulson plan passes?  (ClusterStock.com)

Banks need to be recapitalized and deposit insurance limits need to be raised.  (All About Alpha)

However, deposit insurance premiums need to be adjusted. (DealBreaker.com also Calculated Risk)

“If we don’t do this bailout, Main Street will pay anyway, and pay much more dearly.”  (Accrued Interest)

‘So the US decision to bailout AIG might have saved Europe’s banks – but it had a much more direct aim of saving Goldman too.”  (FT Alphaville)

“Accounting rules do not affect cash flows.”  (Aleph Blog)

‘Fair value’ accounting standards are now not-so standard.  (Floyd Norris, Curious Capitalist, NakedShorts, Alea, Big Picture, ClusterStock.com also Infectious Greed)

Are ETNs an endangered product?  (ETF Trends)

The U.S. dollar has taken a shine to credit crisis.  (CNNMoney.com, Bespoke Investment Group)

Q3 GDP was likely negative.  (Econbrowser)

Manufacturing activity slowed in September.  (Economix, Real Time Economics)

The odds of a Fed rate cut this year are on the rise.  (Real Time Economics)

Forecasting is difficult.  (Freakonomics)

Is Apple (AAPL) immune from an economic downturn?  (Silicon Alley Insider)

The battle to be the face of CNBC.  (Vanity Fair)

Which teams have the “secret sauce” to win the World Series?  (SI.com)

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