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In surely a harbinger of many more such episodes to come, Ryan Brinkerhoff, 24, apparently lost his mind last night, and tried to set fire to the 34th floor of 7 World Trade Center.

In surely a harbinger of many more such episodes to come, Ryan Brinkerhoff, 24, apparently lost his mind last night, and tried to set fire to the 34th floor of 7 World Trade Center.

...To Los Angeles. The latest victims are 91 year-old Zsa Zsa Gabor, together with her ninth, and 30 years old younger husband, Frederic von Anhalt.

...To Los Angeles. The latest victims are 91 year-old Zsa Zsa Gabor, together with her ninth, and 30 years old younger husband, Frederic von Anhalt.

Despite it being only 20 days into the year, some hedge funds have already posted their performance. Some notable YTD performers:

Stratus Fund: 1.81%
Traxis Fund: -5.71% (We hope Barton Biggs' book profits are better than his hedge fund's)
Moore Global: 2.21%
Moore Emerging Markets: -1.62%

While John Thain will be enjoying his creme of the crap status of reviled interior decorators for some time, Dick Fuld is about to upstage him in the shady asset transfer category. Cityfile has broken the following bombshell: the Gorilla's $13 million home on Jupiter Island, which was held by both Mr and Mrs Dick, was recently transferred singly to Kathy. Dick sold his portion of the house on 265 S Beach Rd, Jupiter Island to his wife for the princely sum of $100.

While John Thain will be enjoying his creme of the crap status of reviled interior decorators for some time, Dick Fuld is about to upstage him in the shady asset transfer category. Cityfile has broken the following bombshell: the Gorilla's $13 million home on Jupiter Island, which was held by both Mr and Mrs Dick, was recently transferred singly to Kathy. Dick sold his portion of the house on 265 S Beach Rd, Jupiter Island to his wife for the princely sum of $100.

Freddie Mac, which is already owned by the U.S. government, has said it will ask the U.S. Treasury for another $35 billion. The company said its Q4 losses will drive its net worth below zero... again...

Freddie Mac, which is already owned by the U.S. government, has said it will ask the U.S. Treasury for another $35 billion. The company said its Q4 losses will drive its net worth below zero... again...

Paul Kedrosky points out something that will put a dent in many of the talking heads' arguments about housing picking up again in the beat down states. Seems Wells Fargo's 30 Year conforming mortgage is up something like 90+ bps from the several week ago trough of 4.7%. Can't be good. Especially knowing where 30 years Treasuries trade, and all the agency paper being bought by the Treasury with every dollar printed.

S&P expects the US corporate default rate to reach all-time high of 13.9% this year, a significant revision of its previous projection a 7.6% base-case and the consequence of “a substantial worsening of the economy and the financial environment.

In an amusing expose on the negative basis trade, Bloomberg has identified AllianceBernstein and TIAA-CREF as the winners in the trade where Deustche Bank and Citadel crashed and burned.

Former Drexelite and PE legend Leon Black has struck gold after panhandling in front of the headquarters of Calpers and The Teacher Retirement System of Texas for 16 months.

At last check, LUV was down 18%, or $1.75 to $8.06. Despite posting earnings that were a little better than expected yesterday, Calyon analyst Ray Neidl cut the stock to a Sell, with a $7 target. As we had previously noted, any airline which will forcefully deplane a hot chick for wearing a miniskirt deserves all the wrath of the market (that, and some other reasons as well).

Despite losing over 35% of its combined savings in the stock market, the general public had taken Wall Street's shenanigans in stride.