peHUB First Read
* So much for more auto bailouts. Steve Rattner has brought some spine to Washington, and the result is 60 days in operational funding for GM (rather than the requested $16b in loans), the ouster of GM CEO Rick Wagoner and just 30 days for Chrysler to complete its alliance with Fiat (or else face liquidation): "The autos panel rejected a claim by Cerberus that Chrysler could be viable on its own, citing its relatively small size, weak product line-up and declining U.S. market share." * Michael Osinski: How I helped build Wall Street's bomb. * Morning Call: U.S. futures down on automaker woes, European shares pulled lower, London off 2.6% in early trading, Nikkei slides 4.5% and Hong Kong falls 4.7%. * When a small town loses its only bank. * Are the lab rat's days numbered? * Tim Geithner on This Week: "We have roughly $135 billion left" in uncommitted TARP funds.
