Everybody's doing bad now, right? Not at all! Capitalism, as we all know and believe, is a wondrous balancing mechanism that ensures that when one area of the economy (everything) goes down, another (ten quirky niches) will rise up.

An hour before the market closed, NBC News reported that President-elect Obama had picked Geithner, currently the president of the New York Federal Reserve Bank, for Treasury. US stocks reversed earlier losses following the report of Geithner's nomination, with the Dow closing up nearly 500 points.

General Electric Co has quietly changed the way it communicates with Wall Street over the past month, using a company blog, GEReports.com, to share news with investors.

Billionaire Mavericks owner Mark Cuban has issued a statement proclaiming his innocence on the insider trading charges that the SEC filed against him earlier today. He posted the statement on his beloved blog, appropriately.

Bush invited representatives of some of the world's biggest industrial democracies, emerging nations and international bodies to Washington to start developing a more coordinated world response to the economic woes that have millions of people struggling to keep their jobs, their homes and their hopes.

We should all be very concerned that the Detroit motor car manufacturers are asking the U.S. government for $50 billion of bailout funding. These are companies on whom millions of people rely, many of them living in Michigan. A mass exodus from Michigan might not be a good thing for the rest of America.