Arlen Specter Is a Great Cocktail-Party Guest

LAW
• At Clarence Thomas's book party, Arlen Spector casually asked the justice if he’d read Anita Hill’s response in the Times. [Above the Law]
• Even though three top partners have already pleaded guilty, Melvyn Weiss vows to clear his name and fight the marquee suit against his class-action behemoth. [Law Blog/WSJ]
• Banking giant UBS unveiled a big law version of the financial-league tables, ranking advisers according to performance. Is this a way for them to create more efficiency, or are they just opening themselves up to bribery? [Legal Week]

FINANCE
• Today marks the twentieth anniversary of Black Monday, the 1987 stock-market crash that in the current Dow would make for a 3,200-point loss. Paul Tudor Jones, the trader who famously predicted the crash, sees plenty of similarities to the present. [NYT]
• The U.S. Treasury and three top banks — Citigroup, Chase, and Bank of America — put together a $100 billion fund to head off another credit crisis before it starts. [NYP]
• Three Americans won the fake Nobel Prize in economics, which the Bank of Sweden established in 1968 to reward their own kind. What’s next, a Nobel Prize in Law? [WP]

MEDIA
• Brian Williams will host a November episode of Saturday Night Live. Swoon! [HuffPo]
Newsweek goes in the opposite direction of Time, betting big on longer, magazine-y articles and backing off the bloggy approach. [Folio]
• TMZ TV is doing gangbusters in syndication. Meanwhile, the non-celebrity-obsessed make due with one less daily Simpsons episode. [NYT]

FASHION
• Kate Moss cuts her bangs, millions of teenage girls take up shears. [British Vogue]
• The Times notes there are fewer black models on the runway, and Vivienne Westwood is pissed that there are none on magazine covers. [NYT, Fashionista]
• Madonna will probably release a fragrance. Please let it be called "Madge." [WWD via Second City Style]