U.S. Job Seekers Exceed Openings by Record Ratio (NYT)

Hedge funds recovering, mergers and acquisitions are starting up again, the big banks are frantically trying to figure out how to spin their impending resumption of big bonuses. Meanwhile, "the job market is bleaker than ever in the current recession."

Trustee Plans to Sue Madoff Family Members for $198 Million (NYT)

Sharp Drop in Start-Ups Bodes Ill for Jobs, Growth Outlook (WSJ)

"U.S. stock futures are pointing toward a higher open, rebounding modestly from the market's worst week since early July."

No reform, just a cosmetic patch (Telegraph U.K., Liam Halligan)

A pox on the G-20, at which "the lack of questioning of the status quo was spectacular." Halligan notes: "Obama's oratory was typically impressive. The trouble is, it wasn't true. ... Nothing 'bold' was done to lessen systemic dangers or overhaul the global regulatory regime."

The Curious Case of the Nets' Ownership ((WSJ)

Russian oligarch's pending purchase of New Jersey Nyets continues an odd, tragicomic history of ownership of the franchise that once boasted Dr. J. Funny little story by Brad Parks notes that Bruce Ratner, who bought the team in 2004 for $300 million, wound up spending about $1.5 million per win.

Profits Poised to Surprise Again (WSJ)

Even bears are optimistic about impact on market. "One big reason for the market's continued strength is that expectations were so low for the economy and corporate earnings that the market was able to rise even on modestly good news."

`Black Swan' Author Taleb Asks Why Bernanke, Geithner Still Holding Posts (Bloomberg)

Nassim Taleb tells biz leaders in Hong Kong: "Bernanke, Geithner and Summers didn't see the crisis coming so why are they still there?"

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U.S. Job Seekers Exceed Openings by Record Ratio (NYT)

Bad news for Main Street.

Report: New Short-term Borrowing Rules being considered for Banks (Calculated Risk)

Banks may actually be reined in.

Mortgages: New Rules Coming Soon (NYT)

New rules by Fed coming this week that will rein in mortgage lenders. "Some consumer advocates applaud the new rules but say they come too late to help many borrowers. Mortgage executives, meanwhile, have expressed concern that the changes could further dry up the mortgage market."

Directors Lose Elections, but Not Seats (WSJ)

"Investor democracy" inaction.

Welcome to the New Normal (Seeking Alpha, John Mauldin)

Good overview, thorough analysis. "Unemployment is high and rising. But if the recession is over, won't employment start to rise? The quick answer is no. We look deeper into the Statistical Recovery and find yet more reasons to be concerned about near-term deflation."

Many Investors Still Avoid Risks of Iraq (NYT)

Big investment conference next month in D.C. to declare that Iraq is open for business. But shrewd story points out bad news for U.S. companies that goes beyond the enormous security problems and political instability: Iraq is not interested in privatizing, and its state-run industries that dominate the economy are even more bloated and inefficient than they were under Saddam Hussein. "We are not after shock therapy," says an Iraqi big shot.

Zoellick Favors Power for Treasury, Not Fed (WSJ)

World Bank president criticizes central banks around the world. Believed to be first smart comment to emerge from a Bush regime appointee.

Still Stuck in the Financial Crisis Woods (Seeking Alpha, Tim Price)

Quotes Dante's "in dark woods, the right road lost," and backs it up with figures, comparing global write-downs and credit losses with the amount of capital raised.

Cuts Meet a Culture of Spending at Condé Nast (NYT)

E-Records Get a Big Endorsement (NYT)

Booming business in the offing, and federal government spending billions in incentives to computerize patient records. Will increase pressure for national ID cards, like it or not.

The Moguls of Mirage, Now Muted (NYT, David Carr)

City's media giants (music, newspapers, everything else) will see in book coming out next month that they and country's other media moguls' companies have lost $200 billion in value since 2000.

Hit TV Shows Have Most-Skipped Ads (NYT)

To Cover World, CBS Joins With a News Site (NYT)

Foreign news site GlobalPost, which has many foreign correspondents, becomes a partner. Looks like a smart move for CBS and fledgling news service.

'Genius Grant' Allows Reporter to Chase More Crime (NYT)

Finally, a solution to the decline of newspaper industry, one reporter at a time.

Revolutionary Guard Buys Stake in Iran Telecom (NYT)

World's most dangerous leveraged-buyout consortium spends $7.8 billion to now control Iran's national telecom industry.

Japan: Possible Culprit to Drive U.S. Interest Rates Higher (Seeking Alpha, Vitaliy Katsenelson)

Japan second-largest holder of U.S. debt behind China. Maybe it's not so bad that U.S.consumer "may become a net saver and will be able to offset (at least some of the) declining demand from our friends across the Pacific."