Govt gives GMAC $3.8B in new aid, boosts stake (AP)

AP - The government gave GMAC Financial Services another $3.8 billion in cash and took a majority stake in the auto lender, aiming to stabilize the company as it struggles with big losses in its home mortgage unit.

Fannie, Freddie proving too big to shrink (AP)

AP - The government's Christmas Eve pledge of unlimited financial aid to mortgage giants Fannie Mae and Freddie Mac is aimed at making sure the housing market doesn't take another turn for the worse and cause the economic recovery to unravel.

Time line: The slow collapse of Fannie, Freddie (AP)

AP - Key events in the government's rescue of Fannie Mae and Freddie Mac:

Ill. to use mortgage database licensing system (AP)

AP - Illinois is embracing a licensing database that officials say will help ensure the competency of mortgage loan professionals.

The good old days of employer funded and managed pension programs are a thing of the past. More and more retirees are managing and/or funding ...

Healthcare

Jennifer Blanchard talks about becoming better prepared financially to meet your healthcare needs.

5 Stocks Bucking the Downtrend (The Motley Fool)

The Motley Fool - Even on the market's worst days, buyout news and other short-term forces can send individual stocks up by 10%, 25%, even 50%.

Morgan Stanley sued over failed $1.2 billion CDO (Reuters)

Reuters - Morgan Stanley has been sued by a Virgin Islands pension fund that accused the Wall Street bank of defrauding investors by marketing $1.2 billion of risky mortgage-related notes that it expected to fail.

CapitalSource nets $119M from HUD mortgage deal (AP)

AP - Commercial lender CapitalSource Inc. on Tuesday said it received about $119 million in cash proceeds after closing mortgages backed by the Department of Housing and Urban Development.

Stifel reaches auction-rate securities settlement (AP)

AP - Financial services firm Stifel Nicolaus & Co. will complete the buyback of auction-rate securities from individual investors six months early under a settlement reached Monday with Missouri and other states.

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