Since October, all of the biggest U.S.-based banks have received billions from the bailout. But "as soon as today," we'll be shifting to a new phase of the bailout, one where some banks are allowed to throw off the yoke of fierce government oversight (especially executive compensation limits). It's unclear just how many banks will be repaying their TARP money this week, but the repayments reportedly may rise as high as $50 billion. Expected among that group are JPMorgan ($25 billion), Goldman Sachs ($10 billion) and a few others. (Perhaps diminishing the import of this is the fact that these banks will continue to benefit from a raft of other government interventions, even as they're ditching the most conspicuous government lifeline.) Once the repayments are announced, we'll update our recipient list and running tally of how much remains in the TARP.

Meanwhile, government officials are also expected to announce this week that companies that have received two rounds of bailouts -- the New York Times names AIG, Bank of America, Citigroup, GMAC and General Motors, but Chrysler ought to also be on that list -- will be barred from shifting compensation at their firms without the say-so of a new "pay czar" at the Treasury Department.

Other links this morning:
Regulators Push for Change at Two Troubled Big Banks (NYT)
Obama’s Economic Circle Keeps Tensions Simmering (NYT)
U.S. Pushed Fiat Deal on Chrysler (WSJ)
Treasury, Key Lawmaker Differ on Risk Overseer (AP)
Fed to Hire Lobbyist as Overhaul Push Looms (WSJ)
High Court Asked to Delay Fiat Deal (WSJ)

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