What’s News

Your condensed guide to today’s daily papers.

Here comes the pinch: Banks in Massachusetts hold the most preferred stock in Fannie Mae and Freddie Mac than lenders in any other state. Since the shares are now worthless, it will make it harder for banks to make new loans. [Herald]

Get it? Stephen “The Rifleman” Flemmi told a Miami court that John Connolly joked about being “one of the gang” after he accepted a $25,000 kickback from Whitey Bulger. [Globe]

We’d worry about this guy, but the Herald seems to be monitoring him pretty closely: A convicted child rapist has been given 30 days to live GPS-free. Once he has an apartment with a land line phone, he’ll be outfitted with the device. [Herald]

Massachusetts liberals strike again: A chaplain at UMass Amherst is under fire after he told his students they could get extra credit for volunteering with the Barack Obama campaign. [Globe]