Updated throughout the day.

The CEOs of Fannie Mae (NYSE:FNM) and Freddie Mac (NYSE:FRE) are each expected to be rewarded with $4 million to $6 million pay packages  (various).

California may have to appeal to the US government as its $21 billion debt problem grows worse. (Bloomberg)

Warren Buffett’s Berkshire Hathaway (NYSE:BRK.A) may be considering buying GMAC ResCap. (Reuters).

Douglas A. McIntyre