* A “court” upheld the government’s authority to tap international phone calls and emails without a warrant. [The Washington Post]

* Would-be Attorney General Eric Holder’s confirmation hearing went well yesterday, and he will go for more today. [The Associated Press]

* Marc Dreier, the lawyer who sold hedge funds phony investments, wants to be released on bail. [Reuters]

* The Senate released the second portion of the bailout fund yesterday, giving Obama a tidy $350 billion to get the economy back on track. [The New York Times]

* In an effort to rally lending, President-elect Obama’s advisors are considering drastic proposals that would take toxic assets of bank balance sheets. [Bloomberg]