• UBS is cutting another 7,500 jobs after posting a $1.8 billion quarterly loss and clients pulled more than $20 billion out of the firm. [BN, NYT]
Andrew Cuomo strikes again: Carlyle Group is now under investigation by the attorney general and the SEC over whether it illegally paid third parties to secure $1.3 billion in investments from New York's pension fund. [BN]
• BlackRock plans to raise $5-$7 billion to scoop up toxic assets. [Reuters]
• Scandal du jour: Danny Pang, who heads up the $4 billion fund Private Equity Management Group, has a few questions to answer, it would seem. [WSJ]

• The new Goldman Sachs would really like to be the old Goldman Sachs, although plenty of questions continue to dog the firm. [Reuters, NYP]
• The Obama administration may release the results of those stress tests being conducted on the country's largest banks. [WSJ]
• JPMorgan Chase, Wells Fargo, Fannie Mae and Freddie Mac report they have all increased foreclosure activity in recent weeks. [WSJ]
• Not every bank is cutting back and laying off staff! Credit Suisse happily reports it's setting up another office in India and hiring 350 people. [DB]