Daily Reading: January 15, 2009

Treasury will get the second half of TARP. CNBC. Big surprise.

Oil prices continue to fall. CNBC. This is really scary stuff. The long-run risks associated with our energy problems are much more dire than the current financial crisis.

Bank of America needs more capital. Bloomberg. How is it possible that U.S. banks were so poorly managed that even after a $350 billion bailout they still need more capital?

Nortel Networks files bankruptcy. Bloomberg. This is just one of many bankruptcies that will take place in 2009.

Does anyone know if any Berkshire Hathaway companies are laying off employees? I doubt it; cost control is as natural to Warren Buffett as breathing. It is unlikely there is much fat to cut at BRK.