The FDIC's empty coffers
Having closed a record 94 banks so far this year, the Federal Deposit Insurance Corp. is running out of cash. To refill its coffers, the deposit-guarantee agency will ask member banks to prepay $45 billion in premiums.
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Bank of America to suspend dealings with ACORN
Bank of America is suspending its dealings with ACORN, the advocacy group threatened with loss of its federal funding since the release of undercover videos showing ACORN employees counseling two people posing as a pimp and his prostitute. ACORN worked with BofA to prevent foreclosures.
FoxNews.com
Fisker Automotive awarded $529 million federal loan
Fisker Automotive, a California startup that counts Al Gore among its investors, has been awarded a $529 million federal loan to build a hybrid sports car. The car will be manufactured in Finland and retail for $89,000.
The Wall Street Journal
Exelon quits U.S. Chamber of Commerce
Exelon, which operates the country’s largest fleet of nuclear reactors, has quit the U.S. Chamber of Commerce, citing the chamber’s opposition to climate-change legislation. It’s the third utility to do so, following Pacific Gas & Electric and New Mexico’s PNM Resources.
The New York Times
CEOs’ median take-home pay falls
CEOs’ median take-home pay in 2008 fell an average 6.4 percent from 2007, according to the Corporate Library, a research firm. Over the same period, the stock market lost 37 percent, and 2.6 million people lost their jobs.
U.S. News & World Report
