Benzinga's Political Roundup (DB, GS, C, WFC)

President Barack Obama announced yesterday that he would try to cut $4 trillion from the deficit over the next 12 years. A Senate panel said that Goldman Sachs GS and Deutsche Bank DB misled investors about CDO's based on the housing market. The 14 largest U.S. mortgage servicers are going to pay back homeowners for losses from foreclosures or loans that were mishandled. This includes Citigroup C, J.P. Morgan JPM and Wells Fargo WFC.