Surgical decision
Treasury tells GM to prepare for surgical bankruptcy by June 1. (NYT) Navy rescues captain, kills pirates. (Reuters) Goldman to launch major private equity fund that will buy discounted assets.
Reversals on a roll
Panetta says CIA no longer operates secret prisons overseas. (WaPo) In reversal, Emanuel supports action on immigration reform. (WSJ) Goldman considers stock sale to repay TARP funds. (Reuters) Chrysler told
Bailout casino
Treasury and BlackRock pushing to set up investment funds to help Americans double down on bailout. (NYT) Buffett‘s Berkshire downgraded. (WSJ) Crew of ship owned by US flag line fights
Health by committee
Exxon Mobil and other oil companies resist Obama administration‘s push for alternative energy. (NYT) AFL-CIO and Change To Win form National Labor Coordinating Committee, headed by Bonior, to begin re-unification
Money misdirected
Cuomo sues Merkin for steering money to Madoff. (NYT) Sachs says Geithner–Summers plan is even worse than he thought because it is so easy to game the system. (HuffPost) In
Story gets it wrong on Summers
Following on Saturday’s weather balloon detailing the Wall Street pay of Larry Summers, today the Times ran a piece on Summers’s work at the hedge fund DE Shaw. Replete with
Bubble belt basketball
Bank of America v. GM in tonight’s championship? (Daily Tar Heel, The State News) Summers made $5.2 million in last year at hedge fund DE Shaw, working one day a
Newsflash: Geithner & Citi were out to lunch
Geithner‘s meeting schedule as NY Fed president released; more meetings with executives of imploding Citigroup than any other bank. (ProPublica) Blagojevich indicted. (Chicago Tribune) CEO of bailed-out Citigroup among top
Regulators! Mount up?
As G20 gets underway, Obama resists regulatory overhaul of world financial system. (NYT) SC governor must decide whether to accept stimulus funds by Friday. (WSJ) Rattner charges new GM chair
Financial Fools’ Day across the pond
Obama and Brown show united front on economy; thousands jam downtown London in Financial Fools’ Day protests. (NYT, FT) Stiglitz in NYT: Geithner plan is “ersatz capitalism, the privatizing of