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Write Offs: 08.15.08

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$$$ UBS says Goldman and JP Morgan will take a hit in the third quarter [Bloomberg]
$$$ Inmates will be cleaning foreclosed properties in California [Home Front]

Moments of hotness at Fox Biz [Wall Street Fighter]
$$$Wachovia buying back $9 billion of auction rate securities [Charlotte Biz Journal]
$$$ KKR bosses made $1.3 billion last year. [Business Sheet]
$$$ Is Greenspan still in denial? [Minyanville]
$$$ The FDIC is suddenly very busy: 8 banks have failed this year, twice as many as all of last year [New York Times]
$$$ Trump offers to help Ed McMahon avert foreclosure [Reuters]
$$$ Who the hell are the Jonas Brothers? [Portfolio]
$$$ Former Indymac employees team up with Republicans to get Schumer [LA Times]
$$$ And that'll do it for us this week. Enjoy your weekend. If you're in New York City, watch out for that tornado!