A Rescue for Citigroup

Following a weekend of non-stop negotiations, a deal is now in place to stabilize Citigroup: The bank will get a $20 billion cash injection from the Treasury Department and the government will guarantee $306 billion worth of toxic assets. [Bloomberg, NYT, WSJ]
The next group in line for a bailout? Home builders, who are now lobbying Congress for a $250 billion stimulus package. [WSJ]
The U.S. economy may need $300 billion and $600 billion more to survive the crisis, says George Soros. [DB]

Some shareholders are now seeking to renegotiate the terms under which Bank of America acquired Merrill Lynch. [NYP]
British banks may need another £110 billion in taxpayers' money to stay afloat. [Times of London]
Steve Schwarzman's Blackstone Group has slashed the size of its planned Asia-focused hedge fund because the global financial crisis. [Reuters]
A play-by-play account of what happened last month when rumors and short-sellers threatened to bring Morgan Stanley down. [WSJ]
Goldman bankers and traders have informed they can still expect decent year-end bonuses. [NYP]
More on how the Obama administration plans to tackle economic policy with Tim Geithner as Treasury Secretary and Larry Summers as director of the National Economic Council. [WaPo, NYT]