Your Weekly Capitol Hill/Wall Street Events Cheat Sheet

We are trying something new this week with our events calendar and publishing at the start of the week instead of the preceding week's end. Let us know what you think, as we continue to play with the website (and that's a hint as we are working on a redesign/launch).

Last week we were correct to say that the focus would be on the budget with Federal Reserve Chmn. Ben Bernanke, Treasury Secy. Timothy Geithner and the director of the Office of Management and Budget (OMB), Peter Orszag, making multiple trips to Capitol Hill. The sheer volume of coverage was impressive. What we were surprised by was Treasury's announcement of more details in the housing plan without a strategic leak to the press. Normally you see leaks in the paper to set up the information presented at the hearing, but not this time. That is a shame because it would have given journos time to detail the story further. And, it is definitely a story needing the focus on the detail and nuance and less on the heat and politics. Conversely, one of the Troubled Asset Relief Program (TARP) hearings this week has already leaked (today) to the Washington Post (click here for the story) parts of their report to be examined this week.

This week feels similar to last - appearances by Secy. Geithner and OMB Dir. Orszag on Capitol Hill to talk budget and, of course, the Troubled Asset Relief Program "TARP" (all detailed below). President Obama and Vice President get into the act this week with a financial recovery conference on Thursday - we expect more details to come out in the next day or so. What will be interesting to see is if the conference is a photo-op oriented or policy detail oriented. These will be the events that will drive DC financial coverage.

We'll definitely be watching, you should too. We do caution that you check back to WhyYouCare.com for updates on scheduling.

Here's why you care about next week's trends in earnings and reports:
Reports: Mortgages Applications (3/11), Retails Sales and Unemployment (3/12).

Such a big week that you could almost miss it?: There are two hearings this week that will likely end up inside the business pages but shouldn't. They should be general consumption. The first is an examination of the Securities and Exchange Commission, with SEC Chrwmn. Mary Shapiro testifying (3/11). The second is a hearing on Thursday (3/12) looking at "mark-to-market" accounting. Both are exactly that type of thing that sounds boring to the non-MBA set, and is exactly the type of thing the MBA set is focusing on instead of the photo-ops. How businesses run their books and how the SEC polices actions ultimately impact all of us (see daily headlines). But, when the nitty gritty gets examined the good journalistic reporting often gets ignored.

MONDAY 3/9
Hearing: Senate Finance Cmte's U.S. Trade Representative confirmation hearing for Roland Kirk.



TUESDAY 3/10
Earnings: Dick's Sporting Goods, J.Crew, Kroger, Patriot Capital Funding.

Hearings:

House Appropriations Cmte's Financial Services and General Government Subcmte. on the Treasury and the financial crisis. Witnesses: Secy. Geithner and Troubled Asset Relief Program (TARP) Inspector General Neil Barofsky.

Senate Budget Cmte. on the proposed 2010 budget. Witness: Office of Management and Budget Dir. Peter R. Orszag. [EDITOR'S NOTE: RESCHEDULED FROM LAST WEEK.]

Senate Banking, Housing and Urban Affairs Cmte. on protecting investors and regulating securities markets.

Senate Health, Education, Labor and Pensions Cmte. on "Rebuilding Economic Security: Empowering Workers to Restore the Middle Class."



WEDNESDAY 3/11
Earnings: American Eagle, Diamond Foods, National Semi, Newcastle Investment, Quicksilver, Staples, Vail Resorts.

Economic Reports: Mortgage Bankers Association releases weekly data on mortgage applications.

Hearings:

House Financial Services Cmte. on " Views and Estimates Report" to the House Budget Cmte. and mark up pending legislation: Special Inspector General for the Troubled Asset Relief Program Act of 2009.

House Oversight and Govt. Reform Cmte's Domestic Policy Subcmte on "TARP Oversight: Assessing Treasury's Efforts to Prevent Waste and Abuse of Taxpayer Funds." Selected Witnesses: Neel Kashkari, Bush administration's interim Asst. Treasury Secy (you'll recall present at the birth of TARP) and Troubled Asset Relief Program (TARP) Inspector General Neil Barofsky.

House Armed Services Cmte. the security and the global financial crisis.

House Appropriations Cmte's Financial Services and General Govt. Subcmte. on the Securities and Exchange Commission (SEC) and the financial crisis. Witness: SEC Chrwmn. Mary Shapiro.

Joint Economic Cmte. on TARP: Accountability, oversight and transparency.

House Budget Cmte. on the proposed 2010 budget.

House Financial Services Cmte's Financial Institutions and Consumer Credit Subcmte. on "Mortgage Lending Reform: A Comprehensive View of the American Mortgage System."

House Judiciary Subcmte's Commercial and Administrative Law Subcmte. on "Circuit City Unplugged: Why Did Chapter 11 Fail to Save 34,000 Jobs?" [EDITOR'S NOTE: RESCHEDULED FROM LAST WEEK.]



THURSDAY 3/12
Earnings: Anthracite Capital, Interstate Hotels, MGM Mirage, NGP Capital Resources, ZipRealty.

Economic Report: Business Inventories (for Jan.), Initial Unemployment Claims for (3/7), Retails Sales (for Feb.).

Conference: Pres. Obama and V.P. Biden on "White House Recovery and Reinvestment Act Implementation Conference to ensure that dollars invested and spent as part of the Recovery Act are effective, transparent and efficient."

Hearings:

Senate Budget Cmte. on the proposed 2010 budget. Witness: Treasury Secy. Geithner.

House Financial Services Cmte's Capital Markets, Insurance and Govt. Sponsored Enterprises Subcmte.on mark-to-market accounting rules.

House Small Business Cmte's Contracting and Technology Panel on "Ensuring Stimulus Contracts for Small and Veteran-owned Businesses."



FRIDAY 3/13
Earnings: Compass Group

Economic Reports: Export and Import Prices (for Feb.)