Citigroup filed a $60 billion suit because Wachovia entertained a better offer from Wells Fargo on Friday. The Federal Reserve announced the creation of the Commercial Paper Funding Facility (CPFF) to buy commercial short-term debt (three-month and asset backed commercial paper) to help provide liquidity in the credit markets. Australia’s central bank slashed its benchmark interest rate by the biggest amount in 16 years. The move by Australia sparks hopes for more easing of interest rates by other central banks.”]