Snap, Inc. delivered on the expectation that it’ll go public sometime in early 2017, filing today the required paperwork to set the IPO process in motion – NYTimes and WSJ

The Oracle of Omaha, never one to shy away from change—even after choice words for the industry not that long ago, has reversed course and sunk more than $1.3 billion into the US airlines – NYTimes and Marketplace

All those traders excited about a burgeoning US economy ahead may want to keep an eye on the commercial real estate market, which is seeing a rise in defaults and delinquencies as pre-crisis 10-year loans come due – WSJ

MBIA Insurance Corp. has accused Credit Suisse of lying and doctoring records to induce the insurer to cover risky RMBS. More on the no-joke allegations here – Law360

Andrew Ross Sorkin weighs in on what CEOs are expecting (other than the unexpected) in the new administration – NYTimes

2016’s been another dismal year for Bill Ackman and Pershing Square Capital (and pretty much all other hedge funds). But plenty are sticking with him with hopes of a big turnaround ahead – NYTimes

Moody’s is urging NY Federal Judge William Pauley to refuse to allow a third amended complaint to former managing director Ilya Kolchinsky in a suit accusing the ratings agency of manipulating its ratings of toxic RMBS – Law360

The SEC has officially criticized GE’s non-GAAP financial measures, though that’s as far as the agency’s gone thus far – WSJ

The results are in, and more transparency’s the name of the game—for regulators, too – Law360

For spies these days, it’s out with Berlin and in with NYC.  You know, kind of like The Americans, but with LinkedIn instead of  wigs – Bloomberg