This week, look for progress on the stimulus package, the confirmation of Timothy Geithner as Treasury Secretary, and a possible plan from the Obama administration on how to stabilize the banking sector-again. On that subject, debate within higher-minded circles has focused on nationalization and the troubles it would create. But the Obama team seems to be working on a plan that is centered on foreclosure prevention, toxic assets, and possibly another bailout. Are the nationalization folks getting ahead of themselves? Meanwhile, fights have erupted over various parts of the stimulus package the Democrats proposed. Its fate is uncertain, though its journey is expected to be swift.
The full Senate is expected to vote on Mr. Geithner´s nomination.
The Federal Deposit Insurance Corp. is holding a board meeting to consider a proposal to put interest rate restrictions on institutions that are less than well capitalized, and to vote on another measure specifying a method for determining a failed bank´s deposit balance.
The Federal Housing Finance Agency is set to release capital rules for Fannie Mae, Freddie Mac, and the Federal Home Loan Banks.
The Republican National Committee´s winter meeting starts Wednesday night [link]. It´s being held at the Capital Hilton. Will President Barack Obama attend? An aide told the Washington Post earlier this month that Mr. Obama had accepted the GOP´s invitation to address a Republican conference, but no date was specified.
The Republicans will be away from the Hill Thursday and Friday, which means that the stimulus bill will have to move early in the week if it is to make progress.