CIT Group gets bailout from bondholders

CIT Group, refused a government bailout, scraped together money from bondholders to stay above water. (NYT)

As taxing the rich to pay for health care becomes a heated issue, Republicans get angry, and RNC Chairman Michael Steele accuses Obama of “conducting a reckless experiment with our economy.” (WSJ)

Director of the NEC Larry Summers encourages banks to lend more to stimulate growth for 2010. (Bloomberg)

Chairman Ben Bernanke says the Fed is “confident” it can stem off inflation if, or when, it comes. (WSJ)

California will vote on Gov. Arnold Schwarzenegger‘s budget today, which finally accounts for a $26 billion deficit. (Reuters)