The U.S. Treasury becomes the world’s largest financial services fund.  (DealBook, NYTimes.com, WSJ.com)

Is a ‘one-size fits all’ approach to bank recapitalization a prudent approach?  (Market Movers, ibid)

Don’t forget about the FDIC’s TLGC program.  (Real Time Economics, Curious Capitalist)

With the bailout plans in place, all eyes turn to the credit markets.  (MarketBeat)

High yield spreads remain at record highs.  (Bespoke)

“(T)he Japanese clearly think there might be some more nasty surprises in store.”  (FT Alphaville)

What if there are future writedowns?  (Clusterstock)

Is it time to worry about munis?  (TheStreet.com)

Citigroup (C) is still looking for a ‘dance partner.’  (NYTimes.com)

“The economics of the hedge fund industry, so lucrative on the way up, are trying even the most seasoned managers on the way down.”  (NYTimes.com)

Some ‘smart’ hedge funds have moved largely to cash and on the sidelines.  (WSJ.com)

Buying equities ‘slowly and carefully.’  (Morningstar.com)

Catastrophe bond performance, and no we don’t mean mortgage-backed securities.  (WSJ.com)

Charlie Munger wants to gut Wall Street.  (naked capitalism)

Are we ultimately looking at a ‘dumber’ banking system?  (Clusterstock)

The long-term consequences of the ‘Everyone Gets a Trophy Economy.’  (Real Clear Markets via 24/7 Wall St.)

A couple of observations on yesterday’s historic market bounce.  (MarketSci Blog)

Options expiration is likely driving some of the volatility this week.  (Daily Options Report)

Iceland, “a hedge fund with a seat in the UN” takes it on the chin today.  (Crossing Wall Street)

“It looks like Cramer is just throwing everything at the wall and hoping something will stick.”  (Trader’s Narrative)

“Trading is a FULL-time job. It is a profession.”  (Howard Lindzon)

“In short, you should be totally focused on markets when you’re trading, except at those times when you find yourself focused on money.”  (TraderFeed)

How have ‘lazy portfolios‘ performed during the downturn?  (Kirk Report)

Will active management make a comeback in the aftermath of the credit crisis?  (Bull Bear Trader also All About Alpha)

“There really is just one capital market, it’s a global market and has been for a long time…”  (A VC)

Is now the time to allow people to raid their 401(k) accounts?  (Free exchange)

Paul Krugman is a “conceptual innovator.”  (Odd Numbers)

Nothing like hanging out in an MBA program waiting for the economy to turn around.  (WSJ.com)

Is frugality a key to happiness?  (LiveScience.com)

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