Detroit gets its wish -- $17 billion in U.S. loans

Ending months of roller-coaster negotiations, President Bush moves to extend up to $17.4 billion in loans to troubled U.S. auto makers.

Market Snapshot: U.S. stocks poised for mixed weekly results after auto rescue
U.S. stocks moved higher on Friday after the White House says it would loan the ailing auto industry $17.4 billion in loans to prevent their “disorderly liquidation.” See full story. As values tank, S&P redefines large-cap.

NEW YORK -- The price of entry into the large-cap universe is today officially 25% cheaper than it was less than three months ago. See full story. Herald hedge funds suspend redemptions on Madoff exposure.

SAN FRANCISCO - Bank Medici, an Austrian private bank part owned by Italy's UniCredit Group, said Friday that hedge funds it runs had almost all their money invested with Bernard Madoff, who's been accused of what could be a $50 billion Ponzi scheme.

Franken assumes first lead in Minnesota senate race
LOS ANGELES - Former comedian and political activist Al Franken has opened his first lead in the hotly contested U.S. Senate race in Minnesota over incumbent Norm Coleman, according to reports.

MARKETWATCH PERSONAL FINANCE
Pay raises in 2009 will be measliest in 32 years, survey finds Thanks in large part to the hit companies are taking from the current financial crisis, millions of U.S. workers will find their 2009 pay raises are less than 3%, the lowest average in 32 years. See full story.

Source: http://www.marketwatch.com/