• President Bush announced a rescue plan for General Motors and Chrysler that will provide $13.4 billion in federal loans. [CNN]
• Jamie Dimon and Bob Rubin will go bonus-less this year. [Reuters]
• Not surprisingly, Credit Suisse's plan to pay out bonuses with "toxic" securities has "elicited livid reactions from senior bankers." [WSJ]
• A former Lehman employee has been charged with insider trading. [CNN]
• One person who will profit from the Madoff mess: Bruce Wasserstein. Lazard has been appointed to sell the trading operations of Madoff's company. [WSJ]
• There are two—yes, two—books already in the works about Madoff. [TBS]
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Wall Street
Rescue in Washington, 'Toxic' Bonuses
- Posted at 9:31AM on Dec 19, 2008
Email- Filed Under: Bailout, Bernie Madoff, Bob Rubin, Bruce Wasserstein, Citigroup, Credit Suisse, Finance, George Bush, Jamie Dimon, Lazard, Lehman Brothers, Wall Street
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