Bailed-out Banks Overpaid Execs

Fannie Mae earned $17.2 billion last year, the biggest annual profit in the U. S. mortgage giant's history, helped by a record fourth quarter.

The benchmark index has repeatedly come close in recent days, but has pulled back each time as investors grappled with concerns about the banking crisis in Cyprus.

Banks on the tax haven of Cyprus opened Thursday for the first time in 12 days amid the island's continuing financial crisis. Strict limits on the amount of money that could be withdrawn have been imposed – people will be able to withdraw 300 euros ($383) a day and no checks will be cashed – amid fears of a run on the banks.

Cyprus has imposed limits on money transfers and hired extra security guards to prepare for the reopening of its banks, which have been shut for almost two weeks to avoid a run during the country's financial drama.