Holocaust-denying bishop returns to UK

A British Roman Catholic bishop who was ordered to leave Argentina because of his inflammatory comments about the Holocaust has returned home. Bishop Richard Williamson flew into London’s Heathrow airport from Buenos Aires where he was met by a police guard. Williamson was ordered to leave Argentina on February 19 within 10 days after he denied the Nazis had systematically murdered millions of Jews during World War II simply for being Jewish.

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Obama pledges to cut deficit in half at fiscal summit

President Obama pledged Monday to cut the nation’s $1.3 trillion deficit in half by the end of his first term. He identified exploding health-care costs as the chief culprit behind rising federal deficits during a bipartisan “fiscal responsibility summit” convened to discuss ways to restore fiscal stability without deepening the recession. Meeting with the congressional leadership of both parties, as well as a range of business, academic, financial and labor leaders, Obama warned that the country cannot continue its current rate of deficit spending without facing dire economic consequences.

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Obama shines stimulus spotlight on urban economy

President Obama met Friday with 85 mayors from across the country to discuss the implementation of city-related funding from the $787 billion stimulus package. “You shouldn’t have to succeed despite Washington; you should be succeeding with a hand from Washington, and that’s what you’re getting now,” Obama said at a White House reception. “This plan does more to lay a new foundation for our cities’ growth and opportunity than anything Washington has done in generations.” The economic stimulus package sets aside billions of dollars for highway construction, transit improvements, school modernization and community development block grants

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Bank of America’s CEO is subpoenaed

Bank of America CEO and Chairman Kenneth Lewis has been issued a subpoena by the New York State Attorney General’s Office, which is investigating whether the bank violated state law by withholding information from investors, a source familiar with the investigation told CNN. Attorney General Andrew Cuomo has been highly critical of Wall Street firms in general and Merrill Lynch in particular for the way they have conducted themselves in the midst of a financial crisis.

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