Benzinga's Political Round Up (FITB, USO)

The SEC is scrutinizing U.S. banks such as Fifth Third Bancorp FITB after finding out the bank restructured troubled loans in order to make them appear healthier than they really are. Ben Bernanke said yesterday a Republican spending cut would not really hurt economic growth, but could cost around 200,000 jobs over two years. Oil prices USO continue to fall on reported of efforts toward a mediated resolution to the conflict in Libya. The U.N. said that world food prices rose 2.2% in February from the previous month to a record peak, and warned of volatility in the oil markets.