Morning Wrap

Bailout: The New York Times reports that global markets were buoyed this morning by the U.S. government’s bailout of Fannie Mae and Freddie Mac. Read about the past few weeks leading up to the bailout here..

Daredevil: The American Lawyer details the efforts by two Reed Smith lawyers to prove that multimillion dollar daredevil J. Stephen Fossett is truly dead. At stake is an eight-figure estate that will pass to atrust for Fossett’s widow, relatives, and several charities.

Tax Evasion: A partner from Maine law firm Verrill Dana has been sentenced to 28 months in prison for tax evasion, reports the AP via Law.com.

Palin: The Wall Street Journal has a piece on the investigation into Alaska Gov. Sarah Palin’s firing of her public safety commissioner. Alaskan legislators are slated to meet this Friday to dcide whether to subpoena at least seven officials from Palin’s administration.