Items of Interest:
Stephen Labaton / NY Times:
Obama Pressures Credit Card Companies on Rates -- The administration threw its support behind legislation that would adopt new restrictions on credit cards...
Credit Slips / Economics Roundtable: Finally, Some White House Interest in Credit Card Abuses
Michael Fowlkes / BloggingStocks: Obama takes on the credit card companies
Joe Weisenthal / Clusterstock: A Case For Capping Credit Card Rates
Michael D. Shear and Nancy Trejos / Wash Post Business:
Obama Seeks Reform of Credit Card Firms' Practices — President Obama emphasized to credit card executives today that he intends to back efforts to crack down on what lawmakers consider to be deceptive practices, even as the industry criticizes proposed legislation in the House of Representatives as dangerous to the nation's hopes for an economic recovery...
Obama: End 'Abusive' Credit Card Lending — Both Trish McComas, 69, of Indianapolis and Daniel Doucette, 54, of suburban Cincinnati, have recently seen their credit card interest rates spike above 20 percent -- 29.4 percent for McComas and 23.9 percent for Doucette -- even though both say they're always on time with their payments...
----New York Times:
U.S. Is Said to Prepare Filing for Chrysler Bankruptcy — The Treasury Department is preparing a Chapter 11 bankruptcy filing for Chrysler that could come as soon as next week, people with direct knowledge of the action said Thursday....
Kim Priestap / Wizbang: Creditors can Force GM and Chrysler into BankruptcyRandyj / The Page: Report: Treasury Preparing Chrysler BankruptcyAndrew Leonard / Salon: On Chrysler, who will blink first: Treasury, or the banks?Michael O'Brien / The Hill's Blog Briefing Room: White House calls NYT Chrysler report ‘speculation’Lawhawk / A Blog For All: Chrysler Preparing For Bankruptcy FilingDon Surber: Daily scoreboardBig Tent Democrat / TalkLeft: Gov't Preparing For Chrysler Bankruptcy Filing
----Elizabeth Harrow / BloggingStocks:
Was Bank of America's CEO intimidated by the feds? — An outspoken group of Bank of America (NYSE: BAC ) shareholders has been calling for CEO Kenneth Lewis's head lately, with investors none too pleased by the bank's near-disastrous acquisition of Merrill Lynch. However, testimony is hitting Wall Street today that ..
Brian Wingfield / Forbes: Did Ben Bernanke Bully Bank of America?
- The Worst Thing Would Be To Assume The Worst Is Over - Economist
- Investors, Leave Hope for Dead - Jon Markman, MSN Money
- Stress Test Friday: 12 Questions for the Banks - Mark Gilbert, Bloomberg
- Bank Profits and Other Fantastic Tales - Randall Forsyth, Barron's
- TARP Opens the Door for Con Artists - Jonathan Hoenig, SmartMoney
- The Stunning Level of TARP Waste - Editorial, Investor's Business Daily
- Steven Rattner's Next Headache - William Cohan, Fortune
- Bumpy Road Ahead for Chrysler's Nardelli - David Welch, BusinessWeek
- The Twenty Worst Chief Executive Officers - Portfolio
- Why Global Brands Now Rise in the East - John Gapper, Financial Times
- We Are Still A Long Way Away From The Bottom - Nouriel Roubini, Forbes
- 7 Reforms We Can All Agree On - Charles Calomiris, Wall Street Journal
- Clever Gimmicks Do Not Mend Banks - William Cohan, Financial Times
- Job Loss by Millions, Tax Hikes by Billions - Diana Furchtgott-Roth, RCM
- Why I Fired My Stockbroker - Jeffrey Goldberg, The Atlantic
- How Barack Obama Is Remaking Capitalism - John Judis, New Republic
- AIG: What Would Thomas Jefferson Do? - Robert Sloan, Vanity Fair
- Job Outsourcing Is As Powerful As Ever - Vivek Wadhwa, The American
- Executive Whining On Salaries Is Getting Old - Michael Hiltzik, LA Times
- The Reeducation of Tim Geithner - Gary Weiss, Portfolio
- Geithner's Protections: Banking Opportunities Lost - John Tamny, RCM
- 1929 Scams Return Again In Geithner Plan - Jonathan Weil, Bloomberg
- Yet Another Scandal from the Bank Bailouts - Robert Teitelman, The Deal
- Commercial Real Estate: Land Mine on Balance Sheets - 24/7 Wall St.
- Here Are 10 Reasons To Avoid Bank Stocks - Brett Arends, Wall St. Journal
- Is It Time to Charge for Content? - Derek Thompson, The Atlantic
- The USD & Gold Dancing Together Again? - The Mess That Greenspan Made