U.S.

Bernanke Says Large Bank Bailouts `Unconscionable,' Must Not Occur Again Federal Reserve Chairman Ben S. Bernanke said government bailouts of big financial companies are “unconscionable” and must be ended as part of a regulatory overhaul following the worst financial crisis since the 1930s.

Durable Goods Orders in U.S. Probably Rose as Manufacturers Propel Economy Orders for long-lasting goods in the U.S. probably climbed in February for a third month, and home sales were little changed, adding to evidence manufacturing is heading the recovery, economists said before reports this week.

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.

U.S. Stocks Gain for Third Week as Federal Reserve Repeats Low-Rate Pledge U.S. stocks advanced, sending the Standard & Poor’s 500 Index to a third straight weekly gain, as the Federal Reserve said it will keep interest rates near zero to nurture the economy’s recovery.

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.

Latin America

IDB Split on Capital Increase as U.S. Urges Reform, Brazil's Bernardo Says Governors of the Inter-American Development Bank are split on recapitalizing the region’s biggest infrastructure lender, as U.S. officials condition support for any increase on reforms.

Mexico Central Bank Keeps Overnight Rate at 4.5% as Prices Stay in Check Mexico’s central bank kept its benchmark interest rate unchanged today and said inflation will stay in line with its forecasts, adding to speculation that policy makers won’t raise borrowing costs this year.

Growth in Latin America Slowed by Low Productivity Gains, IDB Report Says Productivity rates in Latin American and Caribbean nations are stunting economic growth, the Inter-American Development Bank said.

Bank of America Hires Ades, Milne to Bolster Emerging-Market Debt Research Bank of America Corp. hired Alberto Ades as co-head of emerging-market fixed-income strategy, part of an effort to bolster developing-nation research at the biggest U.S. bank by assets.

Argentina's Economy Expands at Slowest Annual Pace Since 2002's Recession Argentina’s economy expanded last year at the slowest pace since pulling out of a recession in 2003, as a global crisis choked exports and agricultural output fell because of the worst drought in a century.

Colombia's Coffee Crop to Surge on `Optimal' Weather, Growers' Group Says Colombia’s coffee output will jump 41 percent this year from a 33-year low as a combination of “optimal” weather and adequate fertilizer use improves yields, according to the National Federation of Coffee Growers.

Exclusive

Alcoa Gets Energy Chill From Australia's $130 Billion Natural Gas Boom Australia is attracting more than $130 billion of investment in some of the world’s richest natural gas fields to supply buyers in Japan and China. Domestic customers, including Alcoa Inc., will have to wait.

Insurers Bought Most Company Debt Since 2004 as Buffett Saw `Raining Gold' U.S. insurers, holders of more than $2.2 trillion in corporate debt, bought the bonds at the fastest pace in five years in 2009, taking advantage of a market that Warren Buffett said was “raining gold.”

CDO `Samaritan' Hildene Duels With Fund Goliaths Over Stripping Collateral Hildene Capital Management LLC, the $150 million hedge fund that gained 33 percent last year, is fighting firms 100 times its size to preserve the value of collateralized debt obligations holding bank securities.

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.

Greek Banks' Struggle to Make Profits May Trigger Credit-Rating Cut at S&P Profitability at Greece’s largest banks may be “challenging” in coming years as the country’s economy deteriorates, which may trigger a cut of the lenders’ credit ratings, Standard & Poor’s said.

Loan Spread Points to Restraints on U.S. Housing Market: Chart of the Day The spread between rates for conforming and so-called jumbo mortgages signals the housing market will be restrained for some time.