Last week began the corporate earnings season, particularly for Wall Street, with JPMorgan Chase reporting record high earnings of $11.3 billion for the year (to listen to Jamie Dimon, et al., discuss the results, click here.
Among the other financial services companies due to report during this holiday-shortened week are:
Congress comes back to work this week with a number of hearings planned in the House. Specifically, Barney Frank's House Financial Services Committee will be holding hearings on executive compensation and housing, while the Senate Health, Education, Labor, and Pensions (HELP) committee holds a hearing on January 20 on the nomination of Joshua Gotbaum as the new director of the Pension Benefit Guaranty Corp (PBGC).
While debate continues on forging a healthcare bill that both Senate and House conferees can agree on, you may want to read this interesting story on why healthcare costs keep rising.
If you're worried about the emergence of China, Pulitzer Prize-winning columnist Tom Friedman has a different take.