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Bernanke: Banking Plan Would Aid Stability

WASHINGTON – A sweeping regulatory plan to improve risk management for the country’s largest and most internationally active banks is important to making sure the U.S. financial system remains sound, Federal Reserve Chairman Ben Bernanke said Monday. Years in the making, the proposal, dubbed Basel II, would instruct such big …

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Lawmaker Wants Criminal Probe of Former Fannie Mae Officials

WASHINGTON – A senior House lawmaker has asked the Justice Department to investigate whether Fannie Mae‘s former chief executive and former finance chief lied to Congress in sworn testimony in 2004. Rep. Richard Baker, R-La., chairman of the House panel that oversees the government-sponsored mortgage finance company, disclosed Wednesday that …

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Verizon Suing Vonage Over Patents

NEW YORK – Internet phone service provider Vonage Holdings Corp. (VG) on Monday said it has been served with a patent infringement lawsuit filed by two units of Verizon Communications Inc. (VZ). Adding to its woes since a weak stock market debut last month, the lawsuit from Verizon Service Corp. …

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