Write-Offs: 10.21.11
$$$EU looks at 60% haircuts for Greek debt (FT)
$$$ Microsoft may team up with Silver Lake to buy Yahoo (WSJ)
$$$ Emmanuel Derman: "I would like the following principle to be engraved on the foreheads of all financial and economic model users: All models are short volatility." (Reuters)
$$$ Dan Kahneman: "He told me, with a trace of defensiveness, 'I have done very well for the firm, and no one can take that away from me.' I smiled and said nothing. But I thought, privately: Well, I took it away from you this morning." (NYT)
$$$ The Famous (And Infamous) Cops Of Occupy Wall Street (Daily Intel)
$$$ The second annual Decathlon, which benefits the Memorial Sloan-Kettering Cancer Center, takes place tomorrow. Check it out in person and/or make a donation (Bank of America leads so far, followed by Goldman Sachs). (The Decathlon)
$$$ Carl Icahn bought 7.94% of WebMD (WSJ)
$$$The Senate Moves to Subsidize Homes for the Rich (Atlantic)
$$$ "This is one of the great failures of corporate governance. It has yet to find a way to hold directors accountable for their bad decisions." That seems like a pretty big failure. (DealBook)
$$$ If you're reading this, you probably have not been raptured. (UPI)