Yours truly will be headed today early down to D.C.–I hear something is happening there, what it is isn’t exactly clear, there’s a man…well, you get the pic…

   But, yesterday, there was this to ponder:

Congress approved the $700 billion rescue plan with the idea that banks would help struggling borrowers and increase lending to stimulate the economy, and many lawmakers want to know how the first half of that money has been spent before approving the second half. But many banks that have received bailout money so far are reluctant to lend, worrying that if new loans go bad, they will be in worse shape if the economy deteriorates.

   And…

But a Congressional oversight panel reported on Jan. 9 that it found no evidence the bailout program had been used to prevent foreclosures, raising questions about whether the Treasury has complied with the law’s requirement that it develop a “plan that seeks to maximize assistance for homeowners.”

 

   So, surprise, the banks–and their execs–are looking after their asses, not the people who the rescue plan was supposed to partially help (and, recall, I pointed out the deep flaws in the plans from the get-go)–the people who need credit and loans.