Weekend Ideas
This will be a new feature for the site. I’m going to list the top 3 articles from the weekend press. Also, I’ll try to point out some key events for the week as well.
Before I get to that, Kerry and Hutchinson were on NBC’s meet the press discussing the Senate’s stimulus plan. One interesting point that Hutchinson made about bank loans: she wants loans that are current and making payments, but that have their colleteral diminished, not to be called in. This is a major issue for businesses that are making payments, but banks call in their loans due to the collateral losing value.
The Senate starts debate this week and hopes to have a vote by the end of the week. Watch to see if Sen. Greg takes the Commerce job and a Democrat gets appointed in his place.
One more thing, US Treasury Secretary Geithner is going to release a new plan in the next week on fixing the banking system. Let’s see if he asks for a massive $1 or 2 trillion worth of funds to shore up the banks. Let’s also see if the plan closes or mergers weak banks into stronger existing banks.
Now the articles:
Shape of things to come with a massive amount of debt coming?
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a_0Z9DM8.lYQ
These worries are driving Republicans to question the pork component of the current stimulus plan:
http://news.yahoo.com/s/ap/20090201/ap_on_go_co/congress_stimulus
Food for thought for Geithner:
http://bloomberg.com/apps/news?pid=20601087&sid=aKrRkAwxNhTw&refer=home