ALSO NOTED: Deal news; Will Bear Stearns CEO Alan Schwartz take job at JP Morgan; Goldman Sachs offloads some debt; and much mo

Company News:
> S&P lowers Wachovia outlook. Article
> Fitch, Moody's affirm Wachovia. Article
> J.C. Flowers will not boost bid for Friends. Article
> Bear Stearns to take impairment charges. Article
> Wachovia CEO defends capital raising plans. Article
> Will Bear Stearns CEO Alan Schwartz take job at JP Morgan? Video
> Goldman Sachs offloads some debt. Article

Deal News:
> Circuit City scorns Blockbuster's hostile bid. Article
> Delta and Northwest ink $3 billion deal. Article

Industry News:
> Financial ETF trading to be heavy. Article
> Homeowners stuck in unfinished projects. Article

Regulatory News:
> Henry Kaufman says Fed action was lacking. Article

And Finally... Should you say something about that office affair? Article