AIG may seek to ease loan repayment terms: reports
NEW YORK (Reuters) – American International Group Inc may seek to ease terms for repayment of a $60 billion U.S. government loan in a bid to get better prices for its assets, according to media reports.

U.S. lawmakers to question SEC watchdog about Madoff (Reuters)

Reuters – The internal watchdog at the U.S. Securities and Exchange Commission will testify Monday at a hearing by U.S. lawmakers who want to know how the investor protection agency failed to detect the alleged $50 billion fraud by Wall Street financier Bernard Madoff.

Chinese shares fall in slow preholiday trading (AP)
AP – Chinese stocks fell for a seventh straight session on Tuesday, as banks and property developers led a broad decline in lackluster trading.

Blackstone cuts its hedge funds
Blackstone is shrinking its hedge fund business as it becomes the latest private equity firm to look for ways to cut costs as a result of the market downturn