Tonight We Shall All Learn Our Economical Fates

  • President Obama will give a sober, but optimistic, but realistic, but not too realistic, assessment of the economy tonight in his address to Congress. [CNN]
  • "Stress tests" of the banks begin tomorrow; these are designed to expose which banks actually have enough liquidity to withstand more economic strain. Those without the needed capital will just get more from the government. [Bloomberg]
  • Huzzah, peace reigns in Pakistan's Swat region, now that power has been turned over to the Taliban leader who likes to burn girls' schools and hold public executions. [International Herald-Tribune]
  • The District of Columbia may finally get its single House vote. [Washington Post]
  • Greedy banks, insurers, and auto makers want more money from the government, but it is very unclear whether dumping more hundreds of billions into these failing companies will have any effect whatsoever on their health. Then again, the alternative is just to let them fail outright, leading to a further erosion of confidence in the market, etc. We are all doomed. [New York Times]
  • How can Barack Obama run the nation when everybody already hates him? [Los Angeles Times]

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