• Talk of a double-dip recession is overblown, says one economist, for the simple reason that our beaten-up economy is close to rock bottom. [Bloomberg]
• The European Central Bank will probably continue to prop up basket-case banks in Ireland, Spain and Greece until early 2011. [Reuters]
• At the top of the bill for day two of the Financial Crisis Inquiry Commission’s “Too Big to Fail” inquiry panel is none other than Federal Reserve Chairman Ben Bernanke. This is all on the FCIC’s website, but the Associated Press story has a rarely seen file photo of Bernanke wearing a classy powder-blue polo shirt and is therefore worth a look. [AP]
• Attempting to explain why her initial peak-unemployment forecast of 8 percent was “so far off,” departing Council of Economic Advisors chair Christina Romer said that economists remain mystified and surprised that businesses hemorrhaged so many jobs in the wake of the financial panic. It was an awkward exit interview. [NYT]
• After nearly a year of making KB Home incredibly nervous, the Securities and Exchange Commission has decided not to take action against the homebuilder. Now KB can go back to filling America’s insatiable demand for hous — oh, wait, never mind. [WSJ]
