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News roundup: More money for AIG; secret U.S. commando raids

Posted by Mike Carney at 07:51 AM/ET, November 10, 2008 in Today's papers and sites

Good morning. It's Monday.

AP says the federal government is giving insurance giant AIG another $40 billion.

Three nearly simultaneous blasts killed dozens of people in Baghdad, according to BBC News.

The U.S. military has carried out "nearly a dozen previously undisclosed attacks against al-Qaeda and other militants in Syria, Pakistan and elsewhere," The New York Times reports.

The Washington Post says China joined the list of governments that are enacting economic stimulus programs with the announcement last night that it will spend $586 billion to "ease credit restrictions, expand social welfare services and launch an infrastructure spending program that would include the construction of new railways, roads and airports."

President-elect Barack Obama is planning to release some Gitmo detainees, while shipping "dozens, if not hundreds" to the United States for criminal trials, according to AP.

"A third group of detainees — the ones whose cases are most entangled in highly classified information — might have to go before a new court designed especially to handle sensitive national security cases," the wire service says, citing anonymous sources.

The Post says few people noticed the five-sentence announcement in September that gave banks a giant windfall by changing the nation's tax policy. "The change to Section 382 of the tax code -- a provision that limited a kind of tax shelter arising in corporate mergers -- came after a two-decade effort by conservative economists and Republican administration officials to eliminate or overhaul the law, which is so little-known that even influential tax experts sometimes draw a blank at its mention," the paper says.

The Los Angeles Times describes a new study that suggests statins, a popular cholesterol drug, can help people who don't have cardiovascular disease.

Financial Times reports that investment banks and brokerages are expected to cut another 70,000 jobs.