Washington will be both busy and completely shut down on Monday and Tuesday, and then it will be busy again on Wednesday. Perhaps the country will have a new Treasury Secretary by the end of the week; perhaps not. And what of the second half of the Tarp money? Answers to these questions and more...
Martin Luther King, Jr. Day.-given the timing of the IndyMac sale and various bailouts and takeovers that have happened during or immediately before official holidays these past few months, it´s impossible to rule out some action, but there´s nothing scheduled. Let´s only hope preparations for the inauguration parade keep Treasury Secretary Henry Paulson far away from his office.
Millions of people will converge on Pennsylvania Avenue to see President-elect Barack Obama sworn in. Lobbyists and lawyers will be there, but hopefully they´ll have their hands placidly full of refreshments all day.
The Senate Finance Committee will hold Treasury Secretary-designate Tim Geithner´s confirmation hearing at 10am. We wish we could say there will be refreshments.
Elsewhere, The House of Representatives will vote on Financial Services Committee Chairman Barney Frank´s bill to restrict the uses of the remaining Tarp money.
The House will vote on the motion to disapprove of the release of the second half of the Tarp money, a motion that failed in the Senate last Thursday, 42-52.