Cakemakers Are The Backbone Of Our Economy

• It looks like Barack Obama has narrowed down his Treasury Secretary choices to abrasive ex-Clintonite Larry Summers and New York Federal Reserve Chairman Timothy Geithner. [ Politico ]

• President-elect Obama will meet with his team of economic advisors today and then talk to the press, but he probably won't be making any major personnel announcements. [ Reuters ]

• Oh super: Rahm Emanuel served on the board of directors of Freddie Mac for 15 months between 2000 and 2001. (Republicans eagerly investigate whether William Ayers was ever on this board.) [ ABC News ]

• The engine fueling economic stability in California -- the gay wedding industry, natch -- came to a grinding halt on Tuesday. We smell a bailout in the works! [ New York Times ]

• A suicide bomber, possibly female, struck at a market in North Ossetia, killing 12. [ CNN ]

• Henry Waxman is angling to steal John Dingell's chairmanship of the House Energy and Commerce Committee, but Dingell will not go easily. [ The Hill ]