FTSE falls another 2% – it’s a bear market. (Telegraph)

Financial stocks down $1.3 trillion since October. (Clusterstock)

And UBS is still the European bank most exposed to the subprime crisis. (Evening Standard)

CDS in Lehman and Merrill at their highest levels since March. (Bloomberg)

Merrill may write down another $6bn. (DealBook)

Lehman barred from key energy trading window in Singapore, apparently on “credit concerns”. (Reuters)

But level three assets are down at Goldman. (Wall Street Journal)

B&B underwriters left holding a £100m baby. (Financial Times)

Competitive, aggressive narcissist? Must be a succesful hedge fund manager. (The Economist)

Horrid hedge funds hire from banks. What’s new? (Financial Times)

Interns paid hourly. (Dealbreaker)

Only another 15.5 hours’ work to go. (mergers&inquisitions)

Sell, sell, sell the house – unless it’s worth more than £5m. (Evening Standard)