Opening Bell: 02.10.10

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Obama Doesn't `Begrudge' Millions in Bonuses for `Savvy' Blankfein, Dimon (Bloomberg)
"I know both those guys; they are very savvy businessmen," Obama said in the interview yesterday in the Oval Office with Bloomberg BusinessWeek, which will appear on newsstands Friday. "I, like most of the American people, don't begrudge people success or wealth. That is part of the free- market system."
For Office Romance, The Secret's Out (WSJ)
Screw your co-workers!
UBS Claws Back $282 Million of Bonuses From Bankers After 2009 Loss Report (Bloomberg)
"The critical condition, a net profit for 2009 according to International Financial Reporting Standards, was not met," Chief Executive Officer Oswald Gruebel said in a memo to employees dated yesterday.
Investors Questioned Morgan Stanley's Pay (Reuters)
Good news though: "There are no signs of a shareholder rebellion that could lead to en masse dumping of Morgan Stanley shares or embarrassment at this spring's annual meeting."


Oaktree's Marks Urges Faith- And Restraint (Dealbook)
"I'm not saying that leverage is a mistake, but it's a mistake if it gets carried too far," Mr. Marks, the chairman of Oaktree Capital Management, told an audience at the Super Return 2010 conference here.
Bernanke to Outline Exit Strategy in Testimony (CNBC)
He'll also offer some tips for digging one's car out of 4 feet of snow.
Washington Builds a Snow Mountain (WSJ)
"We'll pile it as high as we can," Mr. Howland said. "Pretty soon will be able to ski down it."

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