financialbailoutblog.com

President Obama has been talking — a lot — about what Washington needs to do to help save small businesses. Over the past week, he’s introduced a half-dozen different initiatives aimed at unlocking credit, creating jobs and expanding the Small Business Administration’s loan programs.

Toyota Motor notified dealers it is prepared to unveil a solution to problems with the brake system of the popular Prius hybrid sedan, as well as a public relations campaign to try to repair its battered image.

Wall Street avoided a bigger walloping late last week, with sellers finally calling it quits after a nearly 10% plunge in less than three weeks. But the week ahead could be pivotal as investors either jump back in – or retreat even further.

The government’s monthly job report on Friday showed that the disastrous labor situation plaguing the nation’s economy is moderating. But the report also underlines an unsettling reality: 8.4 million jobs have been vaporized since the recession began, and digging out won’t be easy.

It’s no wonder unemployed workers are getting discouraged: It’s never taken longer to find a new job.

When the Senate grudgingly reconfirmed Ben Bernanke as Fed chairman two days before his term expired, he was only a stand-in for the man 30 senators were really mad at. “I knew that he would continue the legacy of Alan Greenspan, and I was right,” said an angry Jim Bunning, a conservative Republican from Kentucky who voted no. Fumed Bernie Sanders of Vermont, the Senate’s only (admitted) socialist: “He said it publicly — I want to follow in the footsteps of Alan Greenspan. Alan Greenspan’s philosophy is a disaster.” Jeff Merkley (D-Ore.) said Bernanke “helped set the fire that destroyed our economy.” Only helped, that is — and we all know whom he helped.

The fate of a consumer financial protection agency was thrown in doubt Friday, as the Senate Banking Committee chief said he planned to push a bill forward without Republican support.

JPMorgan Chase Chairman and CEO Jamie Dimon will take home a nearly $16 million bonus in restricted stock and options for leading the bank to a big profit last year.

Bets against the fiscally unfit are multiplying, and there’s no telling where they will stop.