For immediate release  —  The Federal Reserve Board on Sunday announced several initiatives to provide additional support to financial markets, including enhancements to its existing liquidity facilities.  —  “In close collaboration with the Treasury and the Securities and Exchange Commission …

Financial Russian Roulette  —  Will the U.S. financial system collapse today, or maybe over the next few days?  I don't think so — but I'm nowhere near certain.  You see, Lehman Brothers, a major investment bank, is apparently about to go under.  And nobody knows what will happen next.

Bank of America Reaches Deal for Merrill  —  In a rushed bid to ride out the storm sweeping American finance, 94-year-old Merrill Lynch & Co. agreed late Sunday to sell itself to Bank of America Corp. for roughly $44 billion.  —  The deal, which was being worked out in 48 hours of frenetic negotiating …

Lehman Expected to File for Bankruptcy Protection  —  According to people briefed on the matter, Lehman Brothers will file for bankruptcy protection on Sunday night, in the largest failure of an investment bank since the collapse of Drexel Burnham Lambert 18 years ago.

AIG Scrambles to Raise Cash, Talks to Fed  —  Insurer Looks to Sell Automotive Business, Annuities Unit;  —  It Seeks $10 Billion in Fresh Capital as Downgrade Threatens  —  Insurer American International Group Inc., succumbing to relentless investor pressure that drove its shares down 31% …

A.I.G. Seeks $40 Billion in Fed Aid to Survive  —  The American International Group is seeking a $40 billion bridge loan from the Federal Reserve, as it faces a potential downgrade from credit ratings agencies that could spell its doom, a person briefed on the matter said Sunday night.

Barclays Walks from Lehman Deal; Likelihood for Transaction Narrows  —  The fate of Lehman Brothers Holdings Inc.'s darkened early Sunday afternoon after Barclays PLC, the sole remaining bidder for the 158-year-old Wall Street firm, told federal regulators that it is walking away from a transaction, people familiar with the matter say.

MAC HATER HAS A LOUSY ‘IMAGE’  —  MAG FOTOG IN DIRTY TRICK TO TURN POL ‘EVIL’  —  Controversial celebrity photographer Jill Greenberg, a self-professed “hard-core Dem,” deliberately took a series of unflattering shots of Republican nominee John McCain for the current cover of The Atlantic - and then bragged about it on a blog.