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The Weekly Crib Sheet for March 1st-5th:  Yes, we’re late this week.  Mea culpa, we went to post yesterday but flinched given the nature of talks going on in the Senate Banking Cmte. on financial regulatory reform.  So here we are, a day late, and marginally a day wiser.  The stories you’ll see on the front pages and network newscasts this week will be – a) quake aftermath (additionally noting that Secy. of State Hillary Clinton travels throughout Central and South America this week), b) Democrats scramble: You likely hear more about the fate of New York Gov. David Patterson (D-NY) and House Ways and Means Chmn. Charlie Rangel (D-NY), plus the Texas primary will get coverage dissecting the Republican vote, and c) the Academy Awards (yes, this always crowds out news especially toward Friday with the awards show on Sunday).  However, as always, there will be a number of business stories that we think will jump beyond the business section and on to the front page…

MBA readers here’s WHY YOU CARE:

1)  Financial Regulatory Reform:  What we know:  Senate Banking Cmte. Chmn. Christopher Dodd does not disappoint when it comes to surprises.  The Fed has gone from losing oversight mojo to gaining strength in a scaled back Consumer Financial Protection Agency.  We’d like to note that there are two arguments going on regarding the CFPA:  1) scope and 2) real estate.  What’s interesting to us is that while the scope question is substantive in regards to how business gets done, the real estate question is essentially about independence.  Somehow the deck chair shuffling took on a larger role than the substantive questions.  We concede that the press can only report what it knows – and the deck chair shuffling is easier to do reading tea leaves than actual legislative language when the Senate Banking Cmte. is on lock down.  Unlike last week that offered a number of easy hearing platforms to explore a new draft bill from Chmn. Dodd, this week is anemic in comparison save for a Senate Banking Cmte. hearing, a House Financial Services Cmte. hearing and a TARP oversight hearing (both noted below).  Regarding timing: Once a deal is struck Tuesday, then there will need to be a bit of margin for the staff (that has lived in their offices throughout Chmn. Dodd’s renewed push) to fold the deal into the draft.  And, as always, even though Chmn. Dodd and Banking Cmte. member Sen. Bob Corker (R-TN) will be the focus reporting, we suggest you keep your eyes on ranking member Sen. Richard Shelby’s (R-AL) reaction to any reported deal, that should tell you how real it is.

2) Toyota:  There is one hearing this week (noted below) which will absolutely get play.

3) Jobs:  The jobs bill could be moved on this week.  The news that Capitol Hill doesn’t want is for the jobs bill to be stalled while the February unemployment numbers roll in come Friday.  This former journalist has looked at enough polls to know that when Congress stalls Americans just blame the party in power.

4)  Health care:  We think that in the wake of the televised health care summit last week you’ll see both parties trying to gain an upper hand by floating proposed trial balloon compromises.  The substance of the trial balloons this week will be a good clue to how the Democrats think they can move forward.

MBA wannabes here’s WHY YOU CARE:  There will be a lot of noise around the new Dodd draft this week.  We suggest that you keep your eyes peeled for stories detailing how large failing companies would be put to rest, and how it is paid for.  That will tell you not only how close the new draft is to being unveiled, but once dropped, how fast it will move to the Senate floor.

Here’s the week:

MONDAY 3/1

Earnings:  HSBC Finance Corp., MBIA Inc.

Economic Reports: Construction Spending (for Jan.), Personal Income/Spending (for Jan.).

Pres. Obama:  Remarks before the U.S. Chamber of Commerce.  Meets with Transportation Secy. Ray LaHood then Defense Secy. Robert Gates.

Dem Leadership:  House Majority Leader Steny Hoyer (D-MD) speech at Brookings Institution.

Ghost of Enron: Supreme Court hears Skilling v. United States.

Fed Watch:  Fed Vice Chmn. Donald Kohn announces retirement (steps down in June).

TUESDAY 3/2

Economic Reports:  Car/Truck Sales (for Feb.).

Pres. Obama:  Jobs event in Savannah, GA.

Senate Hearing:  Senate Banking Cmte. on borrowing for small businesses.

Senate Hearing:  Senate Commerce, Science and Transportation Cmte. on Toyota recalls. Witnesses include: Transportation Secy. Ray LaHood and Toyota’s North America President and CEO Yoshimi Inaba.

TARP/Exec. Pay:  TARP Special Master for Exec. Compensation Ken Feinberg speaks at Princeton.

Texas: Holds primary, eyes on govenor’s mansion.

Anniversary:  First anniversary of AIG reporting the largest quarterly loss in U.S. corporate history (from the Council on Foreign Relations’ World Events Calendar).

WEDNESDAY 3/3

Pres. Obama:  Set to announce that if health care is not given an up or down vote, Democrats will use the reconciliation process to get a bill to his desk. [Editor's Note: Updated 3/3].

Volcker Rule:  Legislative text released.  [Editor's Note: Updated 3/3].

Economic Report:  Federal Reserve’s Beige Book (for March), Mortgage Bankers Assoc’s weekly mortgage information.

Senate Hearing:  Senate Finance Cmte. on 2010 trade agenda.  Witness:  U.S. Trade Rep. Ron Kirk.

House Hearing:  House Agriculture Cmte’s General Farm Commodities Subcmte. on commodity exchanges.

House Hearing:  House Financial Services Cmte. on 2011 estimates (report to House Budget Cmte.).

House Hearing:  House Budget Cmte. on 2011 budget resolution (part 1).

Geithner:  To meet with consumer groups on finance reform overhaul. [Editor's Note: Updated 3/3].

Treasury:  Counselor to the Treasury Secy. Gene Sperling speaks at the CDFI Coalition’s “2010 CDFI Institute.”

Memorial Service:  Capitol Hill service for the late Rep. John Murtha (D-PA).

THURSDAY 3/4

Earnings: Anheuser-Busch InBev

Economic Reports:  Factory Orders (for Jan.), Initial Unemployment Claims (for 2/27), and Pending Home Sales (for Jan.).

Geithner:  Meets with Pres. Obama and Vice Pres. Biden.  Additionally meets with Congressional Oversight (TARP) Panel members (see next entry). [Editor's Note: Updated 3/3].

TARP Hearing:  Congressional Oversight Panel hearing on TARP assistance given to Citigroup.  Witnesses include:  Citigroup CEO Vikram Pandit and Asst. Treasury Secy. for Financial Stability Herbert Allison.

House Hearing:  House Budget Cmte. on 2011 budget resolution (part 2).

Senate Hearing:  Senate Armed Services Cmte. on transfer of GITMO detainees.

House Hearing:  House Armed Services Cmte. on repeal of “Don’t Ask, Don’t Tell.”

FRIDAY 3/5

Economic Reports:  Unemployment Rate (for Feb.).

Treasury:  Treasury Chief Economist Alan Krueger to brief on Feb. unemployment numbers. [Editor's Note: Updated 3/5].

Romney:  Fmr. Gov. and fmr. presidential Candidate Mitt Romney (R) speech at the Natl. Press Club.

Joint Hearing:  Joint Economic Cmte. on February unemployment numbers.

House Hearing:  House Oversight and Govt. Reform Cmte. on the Recovery Act and California.  Witnesses include:  LA Mayor Antonia Villaraigosa.

Iraq Inquiry: British PM Gordon Brown appears before the UK Iraq War Inquirty.

SATURDAY 3/7

Iraq:  Parliamentary Elections (from the Council on Foreign Relations’ World Events Calendar).

SUNDAY 3/8

Academy Awards:  This night.

LOOK AHEAD:

March 12th:  Pres. Obama hosts El Salvadorian Pres. Mauricio Funes.

March 12th:  Secy. of State Clinton to address the UN on women’s issues.

March 16th:  Federal Open Market Cmte. meeting.

March 23rd:  House Financial Services Cmte. on the future of housing finance.  Witnesses invited include:  Treasury Secy. Timothy Geithner and HUD Secy. Shaun Donovan. [Editor’s Note:  Originally scheduled for 3/2/10].