...with a couple of continuing stories - Ralph Cioffi, the Bear Stearns hedge fund manager under investigation for insider dealing, has "ceased to be an employee".

And in the Refco case - remember Refco? - the brokerage's derivatives lawyer, Joseph Collins of Mayer Brown, has been charged with involvement in the fraud allegedly committed by CEO Phillip Bennett.

Everyone's presumably seen the Morgan Stanley results by now, but here's a little snippet from CBS MarketWatch: "Morgan Stanley lost $5.8 billion, or $3.61 a share, vs. earnings of $2.65 billion, or $2.08 a share, in the same period a year earlier. Analysts polled by Thomson Financial had forecast a loss of 39 cents a share..."
Not exactly a stellar prediction, that.