Eleven-figure writedowns at UBS (that is, $10,000,000,000; I think just writing $10bn underestimates the gravity of the situation), and more SIV damage at SG...

Doubt's also growing over the Superfund, announced with such fanfare back in October - the NYT writes "The new superfund, announced with much fanfare in mid-October, now looks increasingly irrelevant. Originally it was thought that the entity, called a Master Liquidity Enhancement Conduit, or M-LEC, might raise as much as $80 billion that could prevent a sharp sell-off in securities owned by structured investment vehicles, or SIVs. Now, the M-LEC, known on Wall Street as the Super SIV, may raise just $60 billion, in part because many of the banks are working out their own rescue plans, and the Superfund will have little left to do by the time it gets going in (apparently) mid January.