You have to feel for the likes of Zoe Cruz, Erin Callan and Sallie Krawcheck. Each one has held the mythic title--ever so briefly--of the most powerful woman on Wall Street. And in the recent credit crunch, each one left her bank under a cloud.

Callan has resurfaced at Credit Suisse, and we can only hope she ascends to similar heights. As for Cruz, there are reports that UBS was knocking on her door, but she did not want to move forward. TheStreet.com reports Cruz may be considering starting a hedge fund. Some might think this is the worst possible time to start a hedge fund. Then again, when the market has bottomed out, it may be an opportune moment to jump in. She certainly has the brand name to make a splash.

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