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SEC Vs. Goldman Sachs Watched By Many; Both Parties' Spending Is Lavish

Good morning.

Already there's been news about:

Europe's skies opening to air travel again, a week after volcanic ash from Iceland made flying risky.

— Chrysler announcing that its losses narrowed in the first quarter and that it still expects to break even for the year.

— An explosion on an oil rig in the Gulf of Mexico off the coast of Louisiana. At least 11 workers are missing as of this hour.

— The death of former International Olympic Committee president Juan Antonio Samaranch. He was 89.

Other stories making headlines this morning include:

Morning Edition — Experts Say Goldman Sachs Case Won't Be Easy For SEC: "The Securities and Exchange Commission took on Goldman Sachs, charging it with civil fraud last week. The big bank denies wrongdoing and is fighting back. This fight with Goldman is about more than just the money involved in that case — investors allegedly lost more than $1 billion. It's a test of whether the SEC can keep up with the complexities of modern finance. And many people are watching to see whether the SEC can really get tough on Wall Street." NPR's Yuki Noguchi reports:

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The Washington Post — "Both National Party Committees Spend Big Chunks On Fancy Meals, Hotels, Travel": "Both the national Democratic and Republican party committees spend about two-thirds of the money they take in on the care and comfort of committee staffs and on efforts to raise more funds, with lavish spending on limousines, expensive hotels, meals and tips, an analysis of the latest financial disclosure data shows."

— NPR News — Obama Has Begun Talking With Possible Supreme Court Nominees: NPR's Nina Totenberg reports on the president's search for a replacement for retiring Justice John Paul Stevens:

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The New York Times — Mumbai Hotel, A Killing Zone, Is Grand Again": " On Wednesday, the Oberoi Hotel, one of two five-star hotel complexes attacked by 10 Pakistan-based gunmen in November 2008, will welcome its first guests after a comprehensive $45 million reconstruction. ... The rebirth of the Oberoi — along with the expected return to full service of the other hotel attacked, the Taj Mahal Palace and Tower — is an important milestone for Mumbai, formerly known as Bombay. The brazen strike, in which 163 people died, dealt India and Mumbai a significant psychic and economic blow, and recovery has come slowly."

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