According to Reuters, gaps in controls at Societe Generale allowed a junior trader to make at $73 billion losing bet on European shares prices.

Reuters writes that Countrywide’s (CFC) CEO will give up $37.5 million in payments.

Reuters writest that the NY Attorney General has begun an investigation into research done by Merck (MRK) and Schering-Plough (SGP) on their cholesterol drug Vytorin.

The Wall Street Journal writes that Countrywide bond-holders are worried that they will not get full value for their investments after the Bank of America (BAC) takeover.

The Wall Street Journal reports that Cisco (CSCO) is introducing new products to simlify data centers.

The Wall Street Journal writes that the NY Attorney General will get cooperation from Clayton Holdings (CLAY) in his investigation into whether investment banks disclosed enough to investors about mortgage-related securities.

The Wall Street Journal writes that AMD (AMD) is marketing a new graphics card aimed at Nvidia (NVDA).

The Wall Street Journal writes that Sony Ericsson has launched its own online music service for mobile phones.

The New York Times writes that SLM (SLM) has settled its suit over an aborted takeover of the company.

The New York Times writes that a hedge fund is trying to get four seats on its parent company’s board.

The FT writes that Singapore”s sovereign funds has pledged more transparency.

Barron’s writes that many 2007 IPOs lost a substantial part of their value.

CNN Money writes that gas prices fell slightly last week.

Douglas A. McIntyre

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