Right person, right time

Defending fair-value accounting
An SEC report defends much-criticized accounting standard.

Treasury to tap rest of TARP
Paulson to enter discussions with Congress to get the rest of bailout funds, now that loans to Detroit have cleaned out the last of the first $350 billion.
• Where's money gone? lawmakers ask

What next for oil shale?
Political and economic realities may put  potentially enormous source of hydrocarbons back on the back burner.

Key Democrat's health plan
Sen. Max Baucus releases framework of proposal to guarantee coverage for all.

Crisis of confidence grips consumers
Worries over holding down a job and over poor business conditions leave consumers downbeat, and the Conference Board sees little to indicate any optimism in the future.

Bush extends help to GM, Chrysler
White House announces plans to extend $13.4 billion in loans to troubled car makers, with another $4 billion likely available in February. • Obama: Earmark loans for long-term plans

Decline in durable-goods orders flattens
Orders for big-ticket items off a mere 1% in November, dragged down by transportation equipment.

Push is on for designation of 2009 tax holidays
Retail industry group floats idea of three 10-day intervals, during March, July and October, when sales taxes wouldn't be collected. Washington would reimburse states for lost tax revenues.

• GDP contracts 0.5%, as expected
• Fed pegs key rate at zero to 0.25%
• Federal red ink surges in November
• Philadelphia factory sector still contracting
• Consumer prices experience a big drop
• Plunge in wholesale-level inflation