December 30

Bankers Get $4 Trillion Gift From Barney Frank: David Reilly (BW)
If you’re a banker, the bill is tastier.

AIG E-mail Trail Reveals Executives Facing Crisis (WP)
Correspondence during tense months in 2007, a full year before the federal bailout, reveals a company wracked by division, doubt and turmoil.

Billions to Fight Foreclosure, but Few New Loans (NYT)
Homeowners, nonprofit loan counselors, legal services lawyers and court officials say big mortgage companies are also at the heart of the problem

New Slip in Housing Prices Undercuts Fragile Optimism (NYT)
Fresh worries about housing came as economic growth for the third quarter was revised down to an annual rate of 2.2 percent from 2.8 percent.

GMAC Set for Another Cash Infusion (WSJ)
The financial-services firm is close to getting approximately $3.5 billion in additional aid from the government, on top of $12.5 billion already received.

Lehman Creditors Support Plan to Return Assets (DealBook)
The administrator for Lehman Brothers in London said that it has substantial support for a plan to distribute assets frozen at the former investment bank’s hedge fund unit directly to creditors by early next year.