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CBS' Anthony Mason covered the deepening crisis that will face Treasury Secretary Timothy Geithner, should he get the job. "Economists say the Obama Administration needs to move quickly to get its massive stimulus package passed to stop the downward spiral." Mason did not mention the report by the Congressional Budget Office, however, that found that most of the infrastructure funding in the plan will remain unspent until 2010. NBC's Chuck Todd and ABC's Jonathan Karl did cover the CBO finding. Mason was more worried about the financial sector where "the country's biggest banks are still bleeding losses," driving down their stock prices. In the last year Citigroup has lost 85% of its value, Bank of America 82%. NBC anchor Brian Williams turned to CNBC's economist Steve Liesman, who explained that "problems in the financials created problems in the economy, which are now ricocheting back on the financials. We are deep in the middle of this spiral." He called outright nationalization of the biggest banks "a distinct possibility."
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