CIT Group gets bailout from bondholders
CIT Group, refused a government bailout, scraped together money from bondholders to stay above water. (NYT) As taxing the rich to pay for health care becomes a heated issue, Republicans
Goldman Sachs’ White House ties run deep
While Goldman Sachs‘ managing partners prepare their lists for Fifth Avenue shopping sprees on bonus day, the firm’s public relations department is grappling with an image problem that has some
Health care confessional: Peter Orszag
Obama’s budget director Peter Orszag delivers a health care confessional on “Fox News Sunday,” revealing that legislation may not be completed by August, as promised. (NYT) He also did not
AMA backs House health care legislation
The American Medical Association has announced it supports the House’s health care bill. (Reuters) But just as everything appears to be going smoothly, Congressional Budget Office Director Douglas Elmendorf says
JPMorgan posts giant profit, despite recession
JP Morgan CEO Jamie Dimon joins Goldman Sachs as its profits jump, despite the recession. (Bloomberg) Senator Chris Dodd declares this health care bill tailor-made for for those without coverage
House health care bill is complete, but may face opposition in Senate
House Speaker Nancy Pelosi revealed a health care bill that expands coverage, increases taxes on the rich and imposes fees on businesses that don’t provide benefits for their employees. (NYT)
CIT Group joins the line for a government bailout
Small business lender CIT Group is in talks to become government-regulated. (NYT) Obama’s chief auto adviser Steven Rattner steps down from his post because of a pension fund scandal with
Tricky Dick’s at it again
Former VP Dick Cheney is in the hot seat as secret CIA files from 2001 are uncovered, revealing a plot to assassinate top Al Qeada leaders. Current CIA director Leon
GM sloughs off bankruptcy
After the sale of its assets, GM is ready for a fresh start, which CEO Fritz Henderson will announce in a press conference later today. (Reuters) House and Senate Democrats
Obama nominates new director of NIH
President Obama nominates geneticist Francis Collins as new director of the NIH. (WSJ) Senator Max Baucus’ health care compromise for employers to be taxed doesn’t go over well with senators