StimPack Clears Congress; More Banks on the Brink

Score one for the new Prez! President Obama's much anticipated, much maligned stimulus package just cleared the U.S. Congress. Both houses. W00t!

Now, to that pesky business of selling all those T-Notes...hmmmmm....
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In the meantime, even moar banks failed.
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Attn Park Avenue Bank, New York Customers:

The FDIC and the State of New York just issued a cease-and-desist order against your bank. As in, cease-and-desist "violations of Federal laws and regulations and other deficiencies discovered during a joint examination conducted by the Banking Department and the FDIC."
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Stimululz

Senate agrees on their package. Dems still asking "is it big enough?"

Some folks say it will be.

Our president proceeded over one of the best press conferences evar. So much majesty. I'm so glad we got 4 years of that good good.

Today on C-Span, House and Senate Republicans swapped spit over the package. GOP warns of the consequences of massive deficit spending. Hey, I couldn't agree more. Where were ya'll for the past 8? Everyone's complaining about pork. But isn't all government spending pork in someone's eyes?

Eveyone wants to know what's in if for me? $789 billion is a lot of cheese. Well, according to CNNMoney, here's what we get:

For work: a $500 credit per worker and a $1,000 credit per dual-earner couple.

And for seniors/veterans who don't work: a one-time $300 payment.

Rich folks get a break too: a one-year provision break on the Alternative Minimum Tax. A nice little boost for middle and upper income households.

Get paid to buy a car: those who buy a car in 2009 deduct the sales tax and interest on the loan.

Please buy a home!: get a temporary home buyer credit. Goes to all home owners, and you might not even have to pay it back.

New college credit: a $2,500 credit for higher education expenses.

Your kids saving you money?: lower income requirement for the child tax credit. Got a big family? You might get a bigger credit for families with 3+ children.

There's also all kinds of extra benefits for the unemployed, those on Medicare, and generally anyone else hit hard by the recession.