Bloomberg writes on economist/seer Nouriel Roubini’s proposed plan of attack. And, look out below:

“At this stage the risk of an imminent stock-market crash — like the one-day collapse of 20 percent plus in U.S. stock prices in 1987 cannot be ruled out,” said Roubini. “The financial system is breaking down, panic and lack of confidence in any counterparty is sharply rising and investors have totally lost faith in the ability of policy authorities to control the meltdown.”

Lastly, Slate’s new Big Money site takes the juiciest parts of the Lehman Brothers and AIG probes in Congress and puts them in bite-size form.

But I think we could all use some good news these days, so I’ll end on what hasn’t been widely acknowledged, that AIG’s brief CEO Robert Willumstad refused his $22 million severance.

Dear Ed:

As you know, the Board of Directors of the company decided that my termination was “not for cause.” Accordingly, I am entitled to receive severance payments under the AIG Executive Severance Plan of approximately $22 million. While I appreciate the Board’s intention to fulfill this obligation, I have decided, after careful deliberation, to forgo the severance payments.

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