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Wednesday, August 22, 2012 TODAY'S TOP HEADLINES   Top Story Profits in G.M.A.C. Bailout to Benefit Financiers, Not U.S. Among the companies that were bailed out by the federal government during the financial crisis, perhaps the most intractable is proving to be the company formerly known as the General Motors Acceptance Corporation. It's a case study in how bailouts can linger and profits, when they do come, flow not to the government but to the Warren E. Buffetts of the world, the Deal Professor writes. G.M.A.C. was the financial arm of General Motors. In the years leading up to the financial crisis, it was also G.M.'s most profitable unit, which tells you something about the auto industry at the time. The company earned more profit from lending money to customers than in selling cars. In 2005, desperate to raise cash, General Motors sold a 51 percent stake in G.M.A.C. to the private equity firm Cerberus Capital Management. Cerbe

Thursday, August 16, 2012 TODAY'S TOP HEADLINES   Top Story No Criminal Case Is Likely in Loss at MF Global A criminal investigation into the collapse of the brokerage firm MF Global and the disappearance of about $1 billion in customer money is now heading into its final stage without charges expected against any top executives. After 10 months of stitching together evidence on the firm's demise, criminal investigators are concluding that chaos and porous risk controls at the firm, rather than fraud, allowed the money to disappear, according to people involved in the case. Investigators are now seeking to interview the firm's former chief executive, Jon S. Corzine, in the coming month, hoping that the former New Jersey governor will shed light on the actions of other employees at MF Global. DEALBOOK » MF Global Trustee Brings Suit Against Top Executives James Giddens, the court-appointed trustee in charge of reclaimi

Wednesday, August 15, 2012 TODAY'S TOP HEADLINES   Top Story British Bank in $340 Million Settlement for Laundering Standard Chartered, the British bank, has agreed to pay New York's top banking regulator $340 million to settle claims that it laundered hundreds of billions of dollars in tainted money for Iran and lied to regulators. The agreement is a victory for Benjamin M. Lawsky and his 10-month old agency, the New York Department of Financial Services, which took on the bank alone in charging that it schemed for nearly a decade with Iran to hide from regulators 60,000 transactions worth $250 billion. Some federal authorities worry the deal has the potential to undercut a sweeping settlement between the bank and federal regulators, including the Federal Reserve and the Treasury Department. They are also investigating Standard Chartered, a 150-year-old bank based in London with operations across the globe. THE NEW YORK TIMES