12 Most Important Business Stories for Today

BOSTON ( TheStreet) -- The decision to recapitalize European banks leads your quick fix of company, market, economic and investing news for Monday, Oct. 10. It may be Columbus Day, but the stock market is open for business.

The Big Story

German Chancellor Angela Merkel and French President Nicolas Sarkozy have pledged to recapitalize European banks "because the economy needs it." Bloomberg

Franco-Belgian bank Dexia does its best impression of Bear Stearns. Reuters

"It was not the money that made TARP unpopular. It was the unfairness. And the unfairness was not at all necessary to resolve the financial problem," finance blogger Steve Randy Waldman writes of the U.S. bailout of financial institutions, an observation made as Dexia is rescued. Interfluidity

Meanwhile, China stepped in to buy shares of four Chinese banks, the first time since September 2008. Financial Times

Quote of the Day

"Politicians can't allow themselves to be pressured by the financial markets. Just because equity prices fall and the euro loses value against the dollar is no reason for giving in to panic," Slovakian political leader Richard Sulik said of the Eurozone crisis. Stock Sage

Company News

Bank of America ( BAC) customers get slapped with a new $5 monthly debit fee, while the bank pays outgoing executives Sallie Krawcheck and Joe Price $6 million and $5 million, respectively. Financial Planning

Stop me if you're heard this one before: Someone reportedly wants to buy Yahoo! ( YHOO). Shocker, I know. This time it's Alibaba and Singapore's Temasek Holdings. Bloomberg

Well, that was qwik. Netflix ( NFLX) has opted not to split its Qwikster DVD-by-mail service from its Internet streaming operations. PaidContent


Head-snapping volatility has pushed regular investors out of the market. Wall Street Journal

Investors gearing up for earnings season this week are wondering why there were no earnings warnings. A Dash of Insight

However, permabears are warning about the high level of inventories in the latest ISM survey. Pragmatic Capitalism

After Friday's jobs number, perhaps people should look back and wish things were as good as they were during the Great Depression of the 1930s. New York Times

Investment Strategy

Comparing MLB teams in the hunt for the World Series Championship to the favorites sectors for bulls: Utilities, technology, health care and energy. Dragonfly Capital

Odds and Ends

Your daily on-the-ground report from Occupy Wall Street. Shouldn't anarchists be targeting Washington and the government? Bronte Capital

Statistical analysis of the cause-and-effect relationship between economic policy and the broader economy wins the Nobel prize for two American economists. New York Times

Your Monday morning wake-up video combines anarchy, as a nod to Occupy Wall Street, and the U.K., where the stock market is up better than 1%. YouTube

-- Written by Robert Holmes in Boston.

>To contact the writer of this article, click here: Robert Holmes.

>To follow Robert Holmes on Twitter, go to http://twitter.com/RobTheStreet.

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Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

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