Good morning, and welcome to a day of big names making headlines.
Bank of America is making moves to pay back its bailout money, including $425 million in federal guarantees against possible losses from its shotgun merger with Merrill Lynch. Meanwhile, the SEC now says it will take BofA to trial over bonuses for Merrill executives.
The Government Accountability Office says AIG has stabilized but may never be able to repay its $182 billion federal bailout.
Faced with a wave of expensive bank failures, the FDIC is considering borrowing money from healthy banks to keep its insurance fund solvent.
The Singapore government cashed out much of its holdings in Citigroup, notching a $1.6 billion profit after the bank's shares recent recovery.
The Great Recession has us living in a world of pain, with longer commutes and delayed weddings. Also down: immigration.
The Census Bureau reports that people in Maryland enjoy the nation's highest median income. People in my native Mississippi have the lowest, and experience a cost of living that's about half what you'd find in Maryland. Five states saw median household income fall last year — Florida led the race for the bottom with a decline of 3.9 percent.