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WASHINGTON — President Barack Obama on Monday proposed a two-year freeze of the salaries of some 2 million federal workers, trying to seize the deficit-cutting initiative from Republicans with a sudden, dramatic stroke. Though signaling White House concern over record deficits, the freeze would make only a tiny dent in annual deficits or the nation's $14 trillion debt. "Small businesses and families are tightening their belts," Obama said in brief remarks at the White House. "The government should, too." The administration s...
To p Goldman Sachs officials defended their conduct in the financial crisis this morning, flatly disputing the government's fraud allegations against the giant financial house. "I did not mislead" investors, insisted a trading executive at the heart of the government's case. But they ran into a wall of bipartisan wrath before a Senate panel investigating Goldman's role in the financial crisis and the Securities and Exchange Commission fraud suit against it and one of its traders. Democratic Sen. Carl Levin of Michigan accused...
