headlines

Financial Bailout expected to have revised "Bad Bank" after all (CNBC)
Based on details coming out that presentation, the plan calls for:

• Some $100 billion will be committed to new capital injections.
• Another $100 billion will go to the Federal Reserve's TALF program.
• And $50-$100 billion on housing measures, as expected.

Good summary of Obama's stimulus speech (AP)

• Stimulus package contemplates total $9.7 trillion of U.S.

• Jobless rate at 7.6%, futures spike on doomsday expectations (Bloomberg)
• Julius Baer confirms "minor trading accident" relating to hiding trading losses (Reuters)
• Nomura needs $3.3 billion following Lehman gluttony leads to indigestion (Reuters)
• Ford on verge of begging after "unexpected" 4$ billion pension shortf
  

• $10 billion slipped between cracks...

• Second-biggest reinsurer Swiss Re asks for $2.6 billion from Warren to keep rating (Bloomberg)
• Russia in Asia - we wrote about this, but WSJ thinks it is serious enough to bear repeating (WSJ)
• Not Ken Lewis' fault? Blame Bernanke - U.S.
  

Brief headlines here as we go thru the Madoff list and try to determine if Kim Kardashian is now trustfundless:

• Alleged Saks acquisition candidate Baugur files for bankruptcy (Bloomberg)
• Toxic asset guarantees have won over bad bank: Senate to take easy yet ineffective way out as usual (Bloomberg)
• Financial triage means ta
  

• Good summary of Obama's first two weeks in office (New Editor)
• Live Nation and Ticketmaster merging (NY Post)
• Kyrgyzstan to force closure of airbase critical to US Afghanistan presence (NYT)
• UBS tried to sell Paine Webber as recently as few weeks ago (

• UPS Freezes Salaries and Suspends 401(k) match on biggest volume drop in decade (PR)
• Credit Suisse cutting bonuses by 55% (Bloomberg)
• Fitch is starting to sniff for a general obligation California downgrade (MarketWatch)
• $4.8
  

• 20 million jobs lost in China from downturn to date - this is actually a very big deal (FT)
• FDIC running out of cash, asks tripling of Treasury credit line to $100 billion (Reuters)
• UBS alienates all current brokers with ridiculous new hire bonuses (

• First aggregator bank plan, now Stimulus bill potentially in tatters (FT)
• Bidding war for future CDS clearinghouse (Bloomberg)
• Violent anti-government rallies all over Russia (

• More on Alvarez & Marsal's intrepid raking in of Lehman billable hours (WSJ)
• Charter Communications to file for bankruptcy any minute (NY Post)
• South Carolina penitentiary inmate No.
  

• GDP: Q4 annualized report out at 8:30 am: Consensus at -5.5%, Actual at -3.8%: someone forget to carry the 1?

• Obama calls bonuses shameful, Dodd to seek legal recourse (Bloomberg)
• Bloomberg to cut $1 billion worth of services to reduce budget (CBS)
• Blagojevich removed from office (

• Economy on the brink: durable goods orders plummet, unemployment benefits hit record high (Bloomberg here and here)
• Citi follows in Merrill footsteps, cancels boondoggles, cuts down on trips (NY Post)
• Ford burns $5.5 billion in cash, changes tune, might need bail ou