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Financial News

Bank Exemption Aimed at Boosting Home-Mortgage Liquidity Is Ended by Fed The Federal Reserve Board removed an exemption it had given to six banks at the start of the crisis in 2007 aimed at boosting liquidity in financing markets for securities backed by mortgage- and asset-backed securities.

Goldman Sachs's Blankfein Gets $9.8 Million Compensation Package for 2009 Goldman Sachs Group Inc. gave Chairman and Chief Executive Officer Lloyd Blankfein $9.8 million in total compensation for 2009, the firm said in a regulatory filing.

Lady Gaga Sues Ex-Producer, Denies Claim He Deserves Fees for Finding Her Lady Gaga sued her former music producer Rob Fusari saying he shouldn’t get any share of fees he says he’s entitled to after claiming he discovered her, dated her and helped develop her sound and style.

Advanta Bank, Six Other U.S. Lenders Closed Amid Bad Loans on Real Estate Advanta Bank Corp., owned by the bankrupt credit-card issuer, was shut by regulators along with three lenders in Georgia as the number of failed banks this year climbed to 37.

Senate's Dodd Weighs Changes to Financial-Rules Plan Amid 399 Amendments Senate Banking Committee Chairman Christopher Dodd will begin weighing amendments to his proposed overhaul of financial rules next week after accepting a change sought by Federal Deposit Insurance Corp. Chairman Sheila Bair.

Ex-Tyco Chief Kozlowski Seeks Millions in Retirement Benefits After Fraud Ex-Tyco International Ltd. Chief Executive Officer L. Dennis Kozlowski, jailed for stealing millions of dollars, wants a U.S. court to order the company to pay him tens of millions from his retirement account.

Treasury Yield Curve Flattest Since January on Inflation Outlook, Supply The difference in yield between 2- and 10-year Treasury notes narrowed for a fifth week as the Federal Reserve reiterated it would keep borrowing costs low for an “extended” period and reports showed a lack of inflation.

Cooper Tire & Rubber Is Found Liable for Fatal Rollover of Minivan in 2007 Cooper Tire & Rubber Co., the second-biggest U.S. tiremaker, is liable for the fatal rollover of a minivan in 2007, a Des Moines, Iowa, jury found.

AIG Chief Benmosche Awarded Salary of $7 Million This Year, Feinberg Says American International Group Inc. Chief Executive Officer Robert Benmosche, the highest-paid executive at the bailed-out insurer, will get a $7 million salary again this year, said paymaster Kenneth Feinberg.

Milberg's Former Class-Action Kings, Out of Prison, Head For Links, Slopes The four lawyers who ran Milberg Weiss Bershad Hynes & Lerach LLP, the firm that got investors $45 billion from securities lawsuits against publicly traded companies, are reacquainting themselves with life on the outside now that they’ve left prison.

General News

Obama Heads to U.S. Capitol Today as Health-Care Measure Hangs in Balance President Barack Obama will travel to the U.S. Capitol today to appeal to House Democrats to back sweeping changes in health care on the eve of a vote on legislation that will help define his presidency.

Hatch Says House Democrats `Nuts' to Think Sunday Vote Settles Health Care Republican Senator Orrin Hatch said Democrats in the U.S. House of Representatives are “nuts” to think tomorrow’s vote on health-care legislation will resolve the issue.

Medvedev, Obama May Sign Arms Reduction Agreement in April, Clinton Says The U.S. and Russia are close to finishing months of negotiations on a new agreement to cut their nuclear arsenals and may sign the accord next month, Secretary of State Hillary Clinton said yesterday in Moscow.



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