In a first for 2009, a $200 million loan BWIC was distributed earlier this week, indicating the deleveraging of hedge funds' credit books is far from over.

As previously reported, Steel Partners is trying to stick it to investors by unilaterally deciding to do a reverse merger something or another, ultimately to prevent investors from redeeming in a pseudo-liquid public vehicle called WebFinancial Co

WSJ, and CNN report that Schrenker is in the custody of the Gadsden County Sheriff's Office. Lt. Jim Corder says Marcus is alive and well. Schrenker managed to traverse a distance of 275 miles, from the house he showed up at on Sunday night in Childersburg, Ala, to his current location at Tallahassee Memorial Hosptial as apparently he had slit his wrists shortly before being captured.

A notice sent out yesterday to all known and unknown lawyers involved in the "biggest bankruptcy of all time" can be found here.

Lawyers A Thru C, for full list click above

As much as I hate to break it to Larry Kudlow and his unending "Ted-Spread is Down" monolog, the outlook for 2009 as per some people who actually know the business, although granted are heavily axed on the apocalypse bidside, is so bad, we should all just be buying rahmen noodles, crank radios, a

District Judge Lawrence McKenna upheld the bail ruling... Guess the choppers on Lex and 64th will keep on bugging Madoff neighbor Matt Lauer indefinitely. We once again push forward the idea for converting the penthouse at 133 East 64th to a museum of Unmitigated Greed. $25 entrance fee... Start recouping those losses already!