The News: Reading Tea Leaves in D.C.
You can't say Tim Geithner isn't being ambitious. The Treasury secretary's plan to help banks dig themselves out of their hole could require $1.5 trillion in public and private money on its way toward buying up bad assets, helping the Fed spur consumer lending, and figure out ways to loan money to big banks that need it. Details come this morning at 11, when Geithner announces specifics. [Washington Post and the Guardian]
The Senate's stimulus bill takes aim at employee - not just executive - bonuses [FinancialWeek]
Wells Fargo points out not all employee trips are 'junkets' [InvestmentNews]
The UBS dilemma: Shrink the business, but keep the good people on-board [Dealbook]
Fortress reduced its staff by about 100 people in November, December [WSJ]
Peter J. Solomon hires Brail to head media and communications practice [Business Wire]