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No need for global currency, Obama says
WASHINGTON (MarketWatch) -- There is no need for a global currency to replace the dollar as suggested by Chinese leaders, President Barack Obama said Tuesday. 'The dollar is extraordinarily strong right now,' he said, because the american economy and political system are stronger than many others. Global leaders meeting in London next week should commit to do what they can to create jobs, avoid trade protectionism and re-regulate the financial system, he said. Speaking at a news conference, Obama said every country needs to do what it can, rather than hoping to free ride on the efforts of others to end the recession. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Market Watch

Key senator, Specter, says he opposes Employee Free Choice Act
U.S. Sen Arlen Specter, considered a key to hopes for passage of the Employee Free Choice Act, said Tuesday that he opposes the legislation, which would change the requirements for certifying unions.
Biz Journal

Daniels Stephenson Inc.: Tony Bennett to Sing for Colours of Hope 2nd Annual Gala Fundraiser, ETA Vaughan
TORONTO, ONTARIO (MARKET WIRE) Legendary Tony Bennett is the featured artist to appear at the Liberty Grand on Thursday, May 14, 2009, at a benefit for ETA Vaughan, a shelter for abused women and their children.
Market Wire

Obama ties hope for economic recovery to passage of budget - Post-Bulletin: Local Politics
  WASHINGTON -- President Obama went before the american people Tuesday evening to say that he's enacted the broad plans needed to lift the country out of an economic crisis and urged the adoption of his budget as another critical step toward recovery.
NewsRack

Obama Ties Hope for Economic Recovery to Passage of Budget - Truthout.com
Washington - Two months into his term, President Barack Obama went before the american people on Tuesday evening to say that he's enacted the broad plans needed to lift the country out of an economic crisis and urged the adoption of his $3.55 trillion budget as another critical step toward recovery. 'We've put in place a comprehensive strategy designed to attack this crisis on all fronts,' he said a White House prime-time news conference, the second of his presidency.read more
NewsRack

Officials seek new power over financial companies
WASHINGTON (AP) -- Pointing with dismay to the AIG debacle, the nation's top economic officials argued Tuesday for unprecedented powers to regulate and even take over financial goliaths whose collapse could imperil the entire economy. President Barack Obama agreed and said he hoped 'it doesn't take too long to convince Congress.'...
The Arizona Republic

Goldman Sachs: returning Fed money soon
Firm hopes to return $10B as soon as possible.
AZ Central

Housing bust a bonus for buyers
The housing bust is not all bad news; some homebuyers have purchased their dream homes at prices they couldn't even hope for a year or two ago.
CNN

Personal Finance Daily: An honest day`s pay for an honest day`s work: What a lie
It's probably too much to hope for that we will go back to any sort of rational compensation system on Wall Street or among CEOs and upper executives of all stripes any more than we will turn back the clock on the exorbitant paydays professional athletes now command. But it would be nice if the insanity got dialed down a little after the beating the economy has taken.
Market Watch

Nearly Half of Home Buyers Unaware of Tax Credit
The Obama administration is hoping that a recently enacted tax credit can generate housing demand and help mop up the existing unsold inventory. But according to a survey commissioned by Move, Inc.--w...
Big News Network

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