One year ago yesterday (9/07/08), the Treasury Department took control of mortgage giants Fannie Mae and Freddie Mac, committing $200 billion of financial support (a number that was eventually doubled to $400 billion).  Just over a week later (9/16/08), the US government interceded with $85 billion to prop up the world's largest insurance company, deeming the behemoth "too big to fail," a phrase many of us had never heard before.  By the end of September 2008, we had also witnessed the largest bank failure in US history, a financial institution that had more than $300 billion of assets at the time it collapsed (source: BTN Research).  
 
The nation's unemployment rate rose to 9.7% last month, a 26-year high.  The Fed however released last week the minutes of their latest meeting (held in mid-August) that showed optimism from the central bank based upon an assumption that our economic recovery is expected to accelerate next year (source: Federal Reserve). 
 
Congress reconvenes today after a rugged August recess that saw many members struggle before raucous crowds in numerous public forums.  President Obama will deliver a major prime-time health care address to Congress tomorrow, attempting to regain control of the national debate.  The president's Council of Economic Advisers will issue on Thursday its estimate of the number of jobs saved and created with stimulus spending (source: White House).