Anna Wintour Puts Friends Before Fashion. Really.FINANCE
• Here come the job cuts: Lehman Brothers will shutter its subprime unit, leaving 1,200 employees out of work. [NYT]
• A new study suggests raising taxes on private equity wouldn’t make any difference because Steve Schwarzman and friends would just find new ways to wriggle out of them. After all, taxes are for the little people, right? [Bloomberg]
• Alan Greenspan supposedly told his new bosses at Deutsche that he would have lowered rates by now, though he denies it. [WSJ]