Stocks are up, home sales are up, factory orders are up — there’s a trifecta of maybe-I-can-get-out-of-bed news this morning. But let’s wait before changing out of our pajamas. It’s just a blip so far. Other stories of interest:
The Dance with the Stars Economy, Real Clear Markets:
The poet W.H. Auden once observed that even when seemingly momentous events are taking place, “the dogs go on with their doggy life.”
Successful Bank Rescue Still Far Away, Financial Times:
“I did expect the US, under a popular new president, to be more decisive than it has been. Instead, the Congress is indulging in a populist frenzy; and the administration is hoping for the best.”
Obama is Expected to Meet with Top Bankers, DealBook:
“The Federal Deposit Insurance Corporation’s chairman, Sheila C. Bair, said Tuesday that banks should be allowed to repay TARP funds, noting that the Treasury needs the resources and that the government needs an exit strategy from the banking bailout, Reuters reports.”
AIG Plane Unit Says Survival in Doubt Without Funds, Bloomberg:
“American International Group Inc.’s plane-leasing unit said it may not be able to survive without help from its parent company or new access to credit.”
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