Time if of the Essence; The Second $350 Billion

President-elect Obama today asked Congress for the Second $350 Billion from the Tarp(officially President Bush had to ask for it). Congress has fifteen days to reject the Obama administrations demand for the funds. Will this Congress stand in Obama's way during the first few days of his new government? This answer is most probably yes. It seems that Nancy Pelosi & Barney Frank want Barack Obama to understand that they will be participating in the final decision. The first $350 Billion was invested in the Banking system to prevent a depression. It is time to deal with the housing crisis by dealing with foreclosures. I believe that Obama will focus on this issue immediately. Time is of the essence!

Random thoughts- Will Citi & Morgan Stanley merge their brokerage units?...yes , look for the announcement within 24 hours....Morgan Stanley will be the Firm with the most retail stockbrokers....all dividends on banking stocks are in question...look for the elimination of dividends within months....2009 starts out with the best actor at the Golden Globes being a WRESTLER....no wonder the market was down today..where is the Obama rally? any day...