ALSO NOTED: Citigroup may sell Japanese consumer finance unit; Morgan Stanley closes infrastructure fund; and much more...

Company News:
> Morgan Stanley closes infrastructure fund. Article
> More on HSBC earnings. Article
> Citigroup may sell Japanese consumer finance unit. Article
> Soros on Bear Stearns. Video
> Evercore posts a 1Q loss. Article
> Ladenburg Thalmann posts loss. Article
> Bank of America to launch NASCAR commercial. Article
> Pandit flexes muscles. Article

Industry News:
> Analyst: REITs overvalued. Article
> Pearlstine to join Bloomberg. Article

Regulatory News:
> SEC looks at Wachovia and auction rate securities. Article
> Feds close a bank in Arkansas. Article

And Finally... 92-year old shareholder declares war on exec pay. Article