just a few econ headlines (+ w bashing)

Toyota sees first annual net loss since 1950

Pink slips stack up as recession drags on

Watchdog: Treasury overpaid for bank stocks

That last one is my favorite... another, "Our MBA President at work" opportunity:

WASHINGTON – A government watchdog has concluded that the federal government gave financial institutions a $78 billion subsidy last year by overpaying for stocks and other assets as part of its massive Wall Street rescue program.

In a report scheduled for release Friday, the Congressional Oversight Panel for the bailout funds found that in some cases the government paid dramatically more than the actual value of the stocks at the time of the transactions.

Financially ailing insurance giant American International Group, deemed by the Treasury Department to be too big to be allowed to fail, received $40 billion from the Treasury for assets valued at $14.8 billion, the oversight panel found.
[emphasis added]

Did W learn anything at Harvard Business School?
Did Paulson??

If Obama & Geithner can't do better than W & Paulson something is very, very wrong!!!

I've written letters & sent emails to my Representative & Senators, suggesting that they ask SecTreas Geithner for a plan before committing the remaining $350Bn...

... and I wrote letter to Geithner directly, challenging him to draft a 'playbook' BEFORE he goes to Congress to beg for the $$$.

Will my letters help?
Probably not - but they make me feel better.

... AND: they meet basic "easy decision" criteria:

1. Can't hurt
2. Might help
3. Costs little (in this case, the price of a postage stamp)

Whenever I'm given a choice that meets those three criteria, I generally go for it!

Have fun!