There were several huge moves today; however, the most talked about will be those in the Dow. At one point the Dow Industrials were down over -800 points, but late in the day managed to stage a massive rally of 500 points before it closed down just -369.88. At the low, it was the largest point drop in history. The early sell off was due to a global equity route last night, while the late rally was due to a rumor -- there might be an emergency G-8 meeting to schedule a coordinated global interest rate cut.

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Doom, Opportunity and Politics

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Ready for Argentina's Sexiest Hotel?

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All In A Day's Work Appallingly, overseas markets are attempting to do their best imitation of yesterday's hideous action, which, if you didn't notice, witnessed the biggest one-day percentage decline of the FTSE100 since Black Monday, Russia's suspending trade after a key index fell to its lowest level since the 1998 default, Iceland hoovering up its banks and, oh yeah, the Dow enthusiastically tanking below the “psychologically riveting" 10,000 watermark. Bottom line, the world's financial tourniquets are not working. Congress's $700 billion bailout package is merely a drop in the subprime ocean. Traders who were breathlessly sinking money into commodities and the so-called “frontier markets" just weeks ago cannot get out fast enough. And where are they all going? Some real-life stories from the edge.

King Of Citadel Stumbles For nearly a decade, Citadel's Kenneth Griffin has rained manna from heaven (or, rather a 20% average annual return) on his hedge fund investors. But, with his sprawling empire falling on hard times, will his efforts to get creative with fee structures dash the much-touted "2 and 20" model - ultimately ushering in newer, cheaper funds?

Lehman Makes Its Case As Bank of America shows its tender underbelly in the form of a profit and dividend cut and Citigroup and Wells Fargo cool their heels in the fight over Wachovia in an uneasy, two-day truce, a new theatre of battle is opening up over Lehman Brothers CEO Dick Fuld. Should he be taken to the tool shed over allowing the bank to pay more than $23 million to three top executives on the cusp of the firm's implosion?

Did Fed Ease Rates On The Sly? Just a few reasons why some market observers believe the U.S. Federal Reserve may have whittled down borrowing costs over the past 24 hours in what economists are branding a "stealth easing."

Brave New World Already wondering what the financial landscape will look like once every bank is bought by every last government (or otherwise given a wet nurse)? Us too. We uncovered a sneak preview.

That Thing Going On Over In Iceland Is Getting Worse The details do not matter - it's Iceland, okay? The only thing you need to worry about is whether your fly-fishing vacation on the Big Laxa River will be ruined this year. Er, and also that Iceland, under some kind of weird martial law it's imposing on markets, is taking over most of its banks and probably biting off a lot more than it can chew. Which is why Russia's involved. And why, as a cautionary measure, we're printing this.

Trading Edge: Controlling Interest The path to financial glory and independence is paved with small, deliberate, incremental steps. Like these.

The world's obsession with a "must have" mentality, or the idea of borrowing money now only to worry about paying it back later has caused one of the biggest crises in today's modern world.

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The Politburo decided today to ignore your supplications to defeat the Wall Street & Foreign Investment Bailout Bill. This time around it passed easily. USSA Politburo to constituents: DROP DEAD! Now that that's over, we can get on with the economic data of the USSA -- grand!

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Sell-Side says bailout good from far, but far from good.

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New York Women's Foundation, an activist group committed to helping low-income women get on their feet, held its first dinner gala Thursday October 2nd.

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In this exclusive, Sabrina Callin sits down for an elaborate exposition of the ideas presented in her book. It was extremely helpful in explaining the key concepts she addresses in the text.

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The thought of having 500,000 of the world's most aggressively trained soldiers nearby can be comforting.

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