To the Point

As the US economy continues to struggle, it turns out that what was good for Wall Street wasn't good for the country after all. We talk with a former chief economist for the International Monetary Fund who says America's "financial oligarchs” stand in the way of economic recovery. Also, Chicago's Sun-Times files for Chapter 11, and America's President goes overseas…with a staff of 500.

President Obama says Chrysler and GM have made "good faith efforts" to restructure their companies — but not good enough. They'll get 60 and 30 days respectively to do better or else face bankruptcy.  Also, a Spanish court opens a case against former Attorney General Alberto Gonzales.

State prison budgets have quadrupled in the last 20 years, out-pacing every state government spending category except healthcare. Guest host Lawrence O'Donnell considers the price of being tough on crime and what changes states are making to run corrections systems that they can afford. Also, President Obama unveils his strategy for Afghanistan. On Reporter's Notebook, who is taking advantage of  rock-bottom home prices?

President Obama wants to dial down in Iraq and up the ante in Afghanistan. His plan to send 17,000 more troops to Afghanistan is meeting increasing resistance from his liberal supporters at home and skepticism from some allies. Is there a better strategy? What alternatives has the President considered? Does history prove that Afghanistan cannot be tamed? Lawrence O'Donnell guest hosts. Also, the administration calls for expanded oversight power of financial system, and the spread of new Hoovervilles as the recession deepens.

President Obama got no questions about Iraq or Afghanistan in last night’s press conference, but was asked if the raging violence of drug cartels in Mexico is “a national security threat.” Guest host Lawrence O’Donnell explores the new tensions in US relations with Mexico and what the Obama Administration hopes to achieve with Secretary of State Hillary Clinton’s meeting today with Mexican President Felipe Calderón.  Also, Obama meets with Senate Democrats on the budget, and Hillary: The Movie confuses the Supreme Court.

Some AIG executives have given their bonuses back, but the fires of populist anger have already been lit.  Can Republicans credibly lead the charge against Wall Street?  Will leftists turn on the Democrat in the White House?  Can public outrage be harnessed to help fix the economy? Also, Geithner and Bernanke face hostile questioning on Capitol Hill, and American cops are giving up codes for plain English.

The bailout of America's financial system began last fall, but the Bush Administration is history.  Now the Obama Administration is faced with growing outrage over the use of public money to rescue failed private companies. Also, the cheapest car in the world goes on sale in India.

With the onslaught of the Great Recession, public confidence has all but evaporated in money managers, investment advisors and financial institutions, public and private.  We ask a variety of observers, who can you trust now? Also, President Obama reaches out to Iran, and General Scott Gration will be Obama's special envoy to Darfur.

The Obama recovery plan contains $19 billion to help American doctors computerize their records. Will Information Technology reduce the costs of healthcare and the incidence of medical error or make things worse? Also, the Fed may be saving credit markets, but who'll save the Fed? On Reporter's Notebook, America's veterans on the sixth anniversary of the war in Iraq.

On Capitol Hill today, it was all about AIG. We hear about millions in executive bonuses, billions in bad debt and proposals for new regulatory authority.  Also, Senate Democrats declare their independence.