Countdown to Sanford’s resignation, day 3

South Carolina Governor Mark Sanford isn’t leaving the headlines just yet. Turns out, he visited his mistress in Argentina on a taxpayer-funded mission. Here’s the real question: why does the governor of South Carolina need to take a “business development trip” to Argentina? (NYT)

Not to be overshadowed in the news by someone with a similar name, Texas billionaire R. Allen Stanford‘s bail is set at $500,000 for masterminding a $7 billion fraud scandal. (NYT)

Senator Max Baucus from Montana says the Senate will keep its health care bill under $1 trillion. But what he’s not saying is what the provisions of the bill will be. (WSJ) One controversial part of the bill is Obama‘s public insurance option, opposed by the American Medical Association. (Balt Sun)

Fed Chairman Ben Bernanke defends his actions during the “shotgun wedding” merger of Bank of America and Merrill Lynch. (Reuters)

AIG reaches $25 billion debt agreement with the Federal Reserve, giving the Fed a stake in their international investment arms. (FT)

Rest in peace, Michael Jackson. We know the way you made us feel. (LA Times)