The world's most powerful investment bank is a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money. In fact, the history of the recent financial crisis, which doubles as a history of the rapid decline and fall of the suddenly swindled dry American empire, reads like a Who's Who of Goldman Sachs graduates.

Ex-Goldman Sachs Group Inc. (GS) proprietary traders Bennett Grau and Mark Mallon are teaming up with former colleague Marc Mezvinsky to start a hedge fund, according to a person with knowledge of their plans.

The three are raising money for their new firm, Eaglevale Partners LP, which plans to start trading in the first half of 2012, said the person, who asked not to be identified because the information is private. The fund will employ a global macro strategy, seeking to profit from economic trends by trading securities from bonds to commodities.

Pittsburgh Mayor Bill Peduto donned a wig with shoulder-length gray hair and a scraggly, long gray beard to star on an upcoming hourlong episode of the CBS Emmy-winning show “Undercover Boss.” The episode is scheduled to air 8 p.m. Dec. 21.

Peduto spent four days collecting garbage, working as a carpenter hanging doors with the Pittsburgh Housing Authority, cutting logs with a chain saw with Department of Public Works employees and posing as a “self-sufficiency coordinator helping community members who are breaking out of the chain of poverty.”

The days were long, Peduto said. He was up at 5 a.m. putting on makeup from a location in Green Tree, where he stayed during the October filming. It took two hours to apply makeup. “Each one of those hairs were put on separately,” he said. He worked from 8 a.m. until 5 p.m. and conducted mayoral business until 9 or 10 p.m.