• After a two-month wait, the nation's 19 largest banks will start to hear today how they did on those stress tests conducted by Washington regulators. [NYT]
• If the test indicates Citigroup will need more money to stay afloat, Vikram Pandit can probably kiss his job as the bank's CEO goodbye. [NYP]
• Andrew Cuomo is urging federal regulators to investigate allegations that Hank Paulson and Ben Bernanke applied pressure to Bank of America chief Ken Lewis to go ahead with the acquisition of Merrill Lynch. [WSJ, NYT, CNN]
• Chrysler is preparing to file for Chapter 11 as soon as next week. [WSJ]

• Ford reported a lower than expected loss for the first quarter today, posting net losses of $1.4 billion. [CNN]
• Investors will have an opportunity today to decide whether they want to cancel future commitments to Quadrangle Group, and given the scandal of the last week, the vote is expected to be close. [NYP]
• American Express said earnings fell 63% in the first three months of the year, marking a sixth-straight quarter of declines. [AP]
• Morgan Stanley is looking at switching things up at its prop-trading desk, including spinning it out into a hedge fund or opening it up to outsiders. [WSJ]
• Investors in Bernie Madoff who lost money won't be asked to return the funds they withdrew from his firm in recent years. [WSJ]