• Bank of America chief Ken Lewis won't be in a good mood today, that's for sure. Regulators have informed the bank that it will have to come up with $34 billion in new capital if it expects to weather the downturn. [WSJ, NYT]
• For its part, Citigroup may have to come up with $5-$10 billion. [Reuters]
• Remember all the outrage that followed the disclosure that AIG had paid out more than $100 million in bonuses? It seems the bonus pool was four times larger than previously anticipated. Oh, well. [NYP]
• Companies cut an estimated 491,000 workers in April, which is less than previous months and possibly a sign that the worst is over. [BN]

• As part of its bankruptcy filing, Chrysler will not have to repay taxpayers more than $7 billion in bailout money it received earlier this year. [CNN]
Steve Schwarzman's Blackstone Group lost $93 million in Q1. [DB]
Fortress Investment Group, the hedge fund and private equity firm run by Wesley Edens, is picking up the hedge fund D.B. Zwirn. [DB, The Deal]
Clifford Asness is watching his hedge fund go down the tubes. In the meantime, he's directing his anger and frustration at Barack Obama. [DB]
• The SEC has accused the men who run Reserve Primary Fund—Bruce Bent Sr. and Bruce Bent II—of fraud and misleading their investors. [WSJ]
• In another case, the SEC is claiming a salesman at Deutsche Bank tipped off a money manager at Millennium Partners about an impending deal. [NYT]