Washington's CIT riddle

NEW YORK (Fortune) -- A self-styled bridge between Wall Street and Main Street is showing some cracks. Now the question is whether Washington might try to shore it up.

CIT Group (CIT, Fortune 500), the New York-based lender to small and midsize companies that got $2.3 billion in taxpayer funds in December, has been reportedly in discussions to get additional government assistance. As of late Tuesday, those discussions were still ongoing.

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How AT&T gets stimulus funds

NEW YORK (CNNMoney.com) -- Big businesses are battling to take home chunks of the government's billion-dollar stimulus pie and AT&T is among the leaders on the telecom front.

While the telecom giant can't go after stimulus funds directly, its clients include many government agencies that are on the receiving end of those funds. And that puts AT&T in a strong position.

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Ex-GM chief's pension cut to $8.5 million

NEW YORK (CNNMoney.com) -- Former General Motors CEO Rick Wagoner will receive $8.5 million over the next five years -- a reduction of about $12 million in his retirement package, according to a filing with the Securities and Exchange Commission Tuesday evening.

The filing was made by Motors Liquidation Co. (GMGMQ), the company that holds the unwanted assets and liabilities the automaker left behind when General Motors emerged from bankruptcy Friday.

The filing shows that Wagoner will get about $1.7 million a year for the next five years, and after that he will receive about $74,000 a year for the rest of his life.

The filing said that Wagoner agreed to the reduction in benefits. The deal takes effect Aug. 1. GM declined to comment on the filing.

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