Reports as of 1/11/2009, Morgan Stanley could pay $2-3 billion for Smith Barney.

— Jim Cramer, CNBC commentator, Sept. 15, 2008

Ben Bernanke, Federal Reserve chairman, Feb. 28, 2008

Previously in June 2008, Kerkorian made an offer of $8.50 per share.

T. Boone Pickens, June 20, 2008

Jim Cramer, CNBC commentator, Mar. 11, 2008.

Five days later, JPMorgan Chase (JPM) took over Bear Stearns with government help, nearly wiping out shareholders.

ITT Corp. on Tuesday said it’s sticking with its 2008 profit view and took
aim at boosting its dividend by 22% in 2009, but signaled a slowdown in some
of its businesses. The White Plains, N.Y. engineering and manufacturing
company ITT Corp (ITT) expects 2009 earnings of $3.60 to $4.00 a share,
compared to its 2008 target of $3.97 to $4.03 a share.

“I’m wiped out,” said Sandra Manzke, Maxam’s founder and chairman. The Darien, Conn., fund of hedge funds will have to close as a result of the losses, she said.

Bank of America (BAC) said late Thursday that it plans to cut up to 35,000 jobs over the next three years

“We will find a solution in the not too distant future.”