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Wall Street asset manager draws attention for dual role as government adviser and contractor. (NYT, WSJ) With legacy on the line, Schwarzenegger is poised to lose key budget vote. (WSJ)

Issues:

Wall Street asset manager draws attention for dual role as government adviser and contractor. (NYT, WSJ)

With legacy on the line, Schwarzenegger is poised to lose key budget vote. (WSJ)

Trustee sues Madoff loser Fairfield Greenwich over $3.2 billion in withdrawals and fictional trades. (NYT)

Commerce Dept: housing construction in April hit record low. (AP)

Home Depot profits soar 44%.