In his press conference this week, President Obama said that the economy will be his singular focus. But can we believe that?

“It’s definitely an admirable goal to have,” said Moore. “If there is a time to strike it is now because it seems like we are hitting a turning point where it might actually make a difference to act now.”

“I’m very far from convinced that there’s anything that the president can actually do, especially now that the Republicans have taken over the House. And the limits of fiscal policy have been pushed by this latest escapades with the Bush tax cuts,” said Felix Salmon.

Listen to the interview to find out what our Weekly Wrap contributors also have to say about Merrill Lynch and its scandalous practices to get its CDOs — its mortgage-backed securities — bought.