Media Digest 11/24/2008 Reuters, WSJ, NYTimes, FT, Bloomberg

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According to Reuters, the US government gave Citigroup (C) a bailout worth over $300 billion.

Reuters reports that the rescue of Citi failed to dispel concerns about the financial market as some indexes around the world traded down.

Reuters reports that Paulson may tap the $700 billion rescue fund to make it easier for households to borrow money.

Reuters reports that some wealthy clients of  UBS (UBS)  are trying to settle tax cases with the IRS.

Reuters writes that leaders at the 21-member Asia-Pacific Economic Cooperation forum promised fast action to help relieve the global credit crisis.

Reuters writes that China’s banks believe they are in good shape to make it through the liquidity crisis.

Reuters reports that world governments are under increasing pressure to create programs to save jobs.

Reuters reports that Bernanke says he made a mistake by underestimating the housing crisis.

Reuters reports that a analysis from Mastercard (MA) shows that retailers struggled in early November.

The Wall Street Journal writes that the sharp drop in Morgan Stanley (MS) shares came as some of Wall St.’s biggest players bet against the investment bank’s future.

The Wall Street Journal reports that homebuilders are seeking a $250 billion bailout.

The Wall Street Journal reports that Detroit is going to ask Congress to help provide incentives to get people to buy more cars.

The Wall Street Journal reports that the Fed is looking at purchasing long-term debt to help bring stability to the markets.

The Wall Street Journal reports that dividends are replacing PEs as a guide for buying stocks.

The Wall Street Journal reports that auto suppliers are moving to conserve cash.

The Wall Street Journal reports that Obama is working on a $500 billion economic stimulus package.

The Wall Street Journal reports that many small firms are trying to buy growth during the recession by making acquisitions.

The Wall Street Journal reports that more retailers are offering shoppers deals on the Monday after Thanksgiving.

The New York Times reports that traders are waiting to see if the Citi bailout will help the broader market.

The FT reports that investors are moving out of buyout funds at a record rate.

The FT reports that Standard Chartered plans a 1.8 billion pound rights offering.

The FT writes that retreats by credit issues are taking their toll on the economy.

Bloomberg writes that InBev raised over $8 billion in a rights offering

Bloomberg reports that GM (GM) will offer a plan to cut debt and set up new arrangements with the UAW to get federal aid.

Douglas A. McIntyre