Senators explore cost of medical devices

Senators Herb Kohl, Bill Nelson and Chuck Grassley investigate the process of purchasing medical supplies in an effort to keep taxpayers’ health costs down. (NYT)

Virginia Senator Jim Webb visits Myanmar to meet with junta leader Senior Gen. Than Shwe. (NYT)

Refused a government bailout, the Fed orders struggling CIT Group to submit a capital plan for paying off their debts within 15 days. (Reuters)

Merrill Lynch is pouring money into recruiting new financial advisers, offering signing bonuses larger than those in 2006 and 2007. (FT)

Blackstone CEO Stephen Schwarzman earned $702 million last year, making him 2008’s highest paid executive. Congrats, Stephen! (Bloomberg)