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Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke testified before the Senate Banking Committee Tuesday about the $700 billion rescue plan for the financial sector. They stressed that it was urgent that lawmakers pass the bill this week. Many committee members were not swayed.

President Obama announced stricter rules on executive compensation at banks receiving "exceptional" levels of aid from the federal government. Some executives will have their annual salary capped at $500,000. Anything above that would have to be paid in stock that won't vest until the firm has paid back its government loans.

With just eight days left in office, President Bush looked back over eight years in office and talked about his joys and disappointments in his final White House news conference. He also had words of encouragement for his successor, Barack Obama.

The global economic crisis tops the agenda as President Barack Obama meets with Britain's prime minister Tuesday. Gordon Brown is the first European leader to visit the new president. Brown will also address Congress during his U.S. visit.

The White House and House Republicans have a deal on the debt ceiling. What remains to be done — and what are the roadblocks — ahead of a vote this week in the House?

Pakistan's president Pervez Musharraf has been a U.S. ally since the Sept. 11 attacks, but his hold on power is as tenuous as ever. On Friday, the Pakistani Supreme Court overruled his decision to dismiss the chief justice. Islamists are furious with him. And President Bush accuses him of failing to go after al-Qaida militants.

The House committees conducting the impeachment probe released the first transcripts of closed-door witness interviews. The transcripts included those of the former ambassador to Ukraine.

President Biden is to hold his first in-person meeting with China's leader, Xi Jinping, in California on Wednesday. The two leaders have a lot to discuss when they sit down.

Rebekah Brooks became the latest News Corp. executive to face criminal charges amid the ongoing phone-hacking scandal in Great Britain. Police arrested the former chief executive Sunday. The scandal has also cost Britain's top policeman his job.