Money Snatchers

A CBS newsman who prosecutors said was desperate and deep in debt was charged Friday with trying to blackmail David Letterman for $2 million in a plot that forced the late night comic to acknowledge having sex with some of the women who have worked for him.

Better-than-expected results from Bank of America and Citigroup did little to spark the banking sector Friday, as ongoing concerns over bad debt dampened Wall Street’s enthusiasm for an otherwise good week for banks.

The McClatchy Co.’s offer to exchange debt for a fraction of its value met a 9 percent acceptance rate, the newspaper publisher said Friday.

The state of California is facing a “multi-notch” downgrade of its debt if it fails to resolve its enormous budget woes, Moody’s Investors Service said Friday.