News for 5 September 2008

Fannie Mae investor sues Citigroup, Merrill over stock drop [Bloomberg]
Citigroup, Merrill Lynch and three other banks were accused in a shareholder lawsuit of failing to warn investors about proposed accounting-rule changes

Merrill's Cribiore joins Citigroup's i-bank [Yahoo Finance]
Citigroup nabs Merrill Lynch's Alberto Cribiore for its investment bank

Goldman cuts Merrill to sell, sees fresh writedowns [Yahoo Fincance]
Merrill Lynch battered by more tha $40 billion of write-downs tied largely to mortgages, will likely incur fresh write-downs

Lehman weighs split to rid itself of troubling loans [NY Times]
Lehman Brothers, the ailing Wall Street bank, is working toward a radical solution in its fight to for survival