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As per a report published by the Wall Street Journal (WSJ), most of the major banks in the US misinterpreted their risk levels.

The repost says that the banks have, in five years, temporarily reduced their risk levels just before reporting their figures. This was done to make the balance-sheet much less riskier than it actually was.

WSJ said that it has been able to reveal this trend by using the data that was available with the Federal Reserve Bank of New York.

Recession has been good for the economy, said outgoing Federal Reserve Vice Chairman, Don Kohn. He said that it has brought about structural changes in the economy, something which was very important for it.

The spending pattern of the Americans has changed and this will surely make the economy healthier over time.

While giving a speech in San Francisco, Kohn said that US economy has come out stronger from the recession. It is now more resilient and is pushing itself on the path of growth, which is going to be sustainable.

The US investors have shown their suspicion in the recovery of Greek economy with the help of emerging market buyers. They are questioning as to how much possible it will be for Greece to sell its overseas debt, given the current situation.

On Thursday, the Greek bonds were further sold off and the yields of two-year bonds went up by around two percentage points.

This could hamper the idea with which the Greek officials are planning to travel to US. They want the US investors to come up and save the beleaguered European economy.

The news is making ripples that something fishy is going on between former Miss Universe and Bollywood actress, Sushmita Sen (Sush) and ex-Pakistani cricketer, Wasim Akram.

Sush is dating the cricketer for quite sometime now and the couple made a hot public appearance at a night spot recently.

Currently, Sush has some Bollywood projects with her and Wasim Akram is the official coach of Shah Rukh's IPL team, Kolkata Knight Riders.

Famous South Indian actress, Rambha has married Indiran Tirumala, a Canadian NRI businessman on Thursday. The marriage took place in of Lord Venkateswara temple in Tirupati.

The ceremony was attended by 500 invitees. Most of these were close relatives of the bride and the bride-groom. The people had arrived at Tirumala Hills on Wednesday itself and were seen very busy with the chores.

After the marriage, the couple performed their prayers in the temple. They later left for Chennai.

The names for this year's Padma Bhushan awardees have been declared. It is, like every other year, a mixture from every area of the society. It includes businessmen, music composers, ex-RBI governor and also many sports personalities.

President Pratibha Patil is going to give these awards in New Delhi. The names of the award winning personalities includes NRI hotelier, Sant Singh Chatwal, businessman Vindi Banga, noted mrudangam exponent, Umayalpuram K Sivaraman and music composer, Ilaiyaraaja . Zohra Sehgal and former RBI governor, YV Reddy are going to be given Padma Vibhushan.