Morning Read: Derivatives Deal, Budget Deal

The financial reform bill’s conference committee reached a deal on the Volcker Rule and on derivatives just after 5 a.m. this morning.

FDIC Chairman Sheila Bair said the bill will end “too big to fail.”

Mayor Bloomberg and the City Council reached a budget deal that cuts 2,000 jobs but calls for no tax increases.

The deal spares 20 firehouses that were set to be closed.

Joe Bruno could go free after the Supreme Court’s ruling “gutted” the “honest services” law yesterday.

Or, Bruno’s dealings might still meet the definition of a kick-back.

The F.B.I. is looking into whether Brooklyn State Senator Carl Kruger brokered favors for fundraisers.

Rick Lazio made at least $1.825 million last year.

Jerry Springer likes the idea of Eliot Spitzer’s new show; Ashley Dupre does not.

Howard Wolfson talked budgets, immigration, soccer over breakfast yesterday.

John Lindsay is still having an effect on the city’s urban planning.

Prescott Bush has died.

Morning Read: Derivatives Deal, Budget Deal