• House and Senate leaders have sorted out an arrangement to prop up Fannie Mae and Freddie Mac. [WSJ]
  • Yahoo reported that revenue during the second quarter grew just 6 percent compared to a year ago, and that net income dropped 19 percent. [NYT]
  • John Paulson is planning a new hedge fund. [Bloomberg]
  • Google is in serious discussions to acquire Digg for "around $200 million." [Techcrunch]
  • Former Bear Stearns hedge fund manager Ralph Cioffi has a new lawyer, Brendan Sullivan of Williams & Connolly, the same man who defended Oliver North. [NYT]
  • The controversy over George Bush's comments about Wall Street getting "drunk" continues. [Dealbreaker]