February 2009

Stories I'm watching this Friday: Caterpillar CEO contradicts President, says stimulus bill won't create new jobs right now The market likes the possible mortgage plan to subsidize down mortgages Caroline Baum's excellent opinion piece on if Barney Frank and Maxine Waters were being grilled Politico's list of stimulus winners & losers Another ... read more

Like it or not, the nearly $800 billion dollar stimulus plan is going to pass.   It will likely be signed into law by President Obama next week. While no one can be certain of how it will eventually play out, there is one certainty; there can be no more excuses.  No more blaming lack of money for things we tend to blame lack of money on. Like schools.  Even though America already spends ... read more

Here is the stimulus act in detail.   Thanks to D.C. reporter Rich Edson for this... The American Recovery and Reinvestment Act of 2009 Creating Jobs, Supporting the States and Investing in Our Country’s Future The United States is facing its deepest economic crisis since the Great Depression, one that calls for swift, bold action. The goals of this legislation are the same as they ... read more

Stories I'm watching this Thursday: "Stimulus" plan puts a whopping $13 bucks more per week into people's paychecks Stocks falling again today as the market votes with its wallet Roubini: More losses to come and we need to nationalize some of the biggest banks Some economists still believe the program is too small Yet more references to post World War I ... read more

Stories I'm watching this Wednesday: The financial bailout is likely to get even bigger Few are talking about it but Russia could become the next big financial disaster California has more pain to come Warren Buffett is making his own stimulus/infrastructure play The political risk of the stimulus crosses both parties The upside of a down housing ... read more

Today treasury Secretary Tim Geithner outlined what was supposed to be the 2nd half of the now-infamous Troubled Asset Relief Program, better known as the TARP. Not only has the name changed from the TARP to the much-easier-to-sell-to-skeptical-Americans "Financial Stability Plan," but the plan itself has changed as well.   It has evolved into a pseudo-TARP and has grown to more than $2 ... read more

Stories I'm watching on this busy Tuesday, one which could go down as the most important in American financial history: Ladies and Gentlemen we have hit the "T" (trillion) word in the bank bailout We are actually going over $2 trillion announced today and details are still sketchy All that money and the stock market still isn't rising Don't forget the stimulus plan, which passed ... read more

Here are some thoughts and key points from Tim Geither's speech today at Treasury as they happen... Chris Dodd (D-CT) intros Geithner, takes a swipe at former Treasury Secretary Hank Paulson, saying he "didn't understand" how important the consumer is.. Dodd says spending a few trillion will give us a "fresh new start" (well, a fresh new start with a few trillion more in ... read more

The President chose to make his first town hall meeting to stump for his economic stimulus package in Elkhart, Indiana.   Elkhart considers itself the "RV (recreational vehicle) capital of America."   Sadly for the cheering folks behind the President in the press conference, his stimulus plan may ultimately do them more harm than good. The President chose Elkhart likely because his ... read more

Stories I'm watching this Monday: We could've paid off nearly every mortgage in America already with what the government has spent "Bad bank" plan gains steam, goes back to Hank Paulson's previous idea for private capital to invest Want to read the entire 778 page stimulus plan?   You can here Obama's plan to move to control the census could have ... read more